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Marsh closing...
Marsh closes Ft. Wayne store, 8 other markets
Feb 08, 2006 - (Fort Wayne) -- Marsh Supermarkets will close nine stores, including its Fort Wayne store, amid a massive corporate restructuring expected to save the 75-year-old company $12 million.
The restructuring plan was announced Wednesday by officials with the Indianapolis-based company.
Marsh opened its supermarket on Maplecrest Road just two years ago, marking the grocery chain's return to the Summit City after thriving here from the 1950's to early 70's.
"The times that I come in here, I have been surprised that there's no more people shopping here,” said Marsh shopper Jerry Foust. “I'm not sure how they do on the weekends, but it must not be too much."
A business reporter with the “Journal Gazette” says that this move wasn't completely unexpected, because Marsh has been in financial trouble for quite some time.
"The bottom line is if this makes the company stronger for the employees, for the owners, then it's a good thing,” said Sherry Slater. “Maybe it will make it more attractive for another company to purchase it."
In November, Marsh leaders said they were exploring selling the company.
Phil Laux, head of the Fort Wayne Chamber of Commerce, says even though more than 100 people are expected to lose their jobs here, they should find similar work quickly. "Meijer, Wal-Mart, I think there's probably opportunity for those folks to be absorbed, “ Laux said.
The Maplecrest store will close by the end of the month.
Also Wednesday, the board of directors removed the grocery chain's president David Marsh, replacing him with his uncle, William Marsh.
The board also decided to lay off 25 employees at the company's headquarters, including executive president Arthur Marsh, vice president Don Marsh Jr., and senior vice president Joseph Heerens. |