CHIPPEWA COUNTY, Wis. (WEAU)-- 11 Gordy’s Markets officially purchased. Four are still awaiting approval.
Chippewa County Judge James Isaacson announced the purchase of the Black River Falls, Osseo, Augusta, Whitehall, Shell Lake, Spencer, Eau Claire Hamilton, Eau Claire Clairemont, Hayward, Chippewa Falls Commons, and Rice Lake Gordy's locations, Thursday.
Aside from the 11 stores that were purchased, there were four that were left out of the mix that had objections made by the buyer.
Michael Polsky, the receiver representing Gordy's, requested the judge put off the hearing of the Neillsville, Arcadia, Galesville, and La Crosse locations, so he could investigate the grounds of the objection.
Judge Isaacson agreed, and the hearing will be set for October 27th.
“We've reached agreements in all outstanding issues. The only objection to the opposed sale of the 11 stores is by Hurias Construction and Northwest Wisconsin Refrigeration Services,” says Polsky.
Christopher Strobel, who's representing the two companies that made claims against Gordy's, says the company owes them.
“Hurias Construction Inc. and Northwest Wisconsin Refrigeration Services have objected to the sale of the debtors assets,” says Strobel.
Strobel went on to say Polsky was unfit to act as the receiver and the auction held Monday was illegal.
“This proceeding is not legal. It has not been properly commenced and that calls into question, everything that went into the sale,” says Strobel.
“These are anything but illegal proceedings,” says attorney James Sweet who represents the Schafer family.
“The fact that we're not going to get a gazillion dollars is not surprising. These stores weren't worth that much. They weren't worth the debt that was against them right now. We knew that going in. The fact that we got what we got was surprising. I think the outcome is stellar,” says Sweet.
Sweet says the family is working to keep six Gordy's locations up and running and in the family; the downtown Chippewa Falls store, as well as the Lake Wissota store, along with the Barron, Cornell, Chetek, and Ladysmith locations.
“All of these communities are going to have these stores left open with all the people employed. I’d say this is a great outcome. They don't need to wait any longer to have these sales approved,” says Sweet.
A Chippewa County judge has approved the purchase of 11 Gordy's Market stores.
Thursday, Judge James Isaacson approved the sale of 11 of the Gordy's locations.
Hansen's IGA now owns the Black River Falls location. Great Lakes Foods, Inc. now owns the Osseo Gordy's. Family Foods now owns the Whitehall Gordy's location. Mr. Alan Krmpotich owns the Shell Lake store. Settlers Bank has purchased the Spencer location. Hilco Global owns the Eau Claire Hamilton, Eau Claire Clairemont, Rice Lake, Hayward, and Chippewa Falls Commons locations.
SpartanNash Company and Hansen's both have objections in their purchases and will meet in front of a judge for approval of the remaining four stores on October 27th.