Gordy's Inventory and Equipment on the Auction Block
Tuesday, September 26th, 2017 -- 8:01 AM
(Wisconsin Ag Connection) -Gordy's Market, the western Wisconsin grocery chain that's currently in receivership, had much of its inventory and equipment placed on the auction block on Monday.Attorney Michael Polsky confirmed that six buyers are currently in the process of bidding on items from 17 store locations around the state. None of the physical real estate is part of the sale, but it is the company's hope that other retailers will purchase the assets and continue operations at those sites.
Meanwhile, the landlord of the Chippewa Crossing store in Chippewa Falls filed a claim for $6.8 million against Gordy's. The New Jersey-based Chippewa Holdings Inc. is one of about a dozen groups to file suit against the company, claiming Gordy's has fallen behind in its lease payments. Last month, Nash Finch said it is suing Gordy's for $86 million for defaulting on its payments for inventory it supplied to the supermarket.
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