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Cooperative Grocery Wholesale Business in Illinois

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Listing Information

Attachments

Cooperative Grocery Wholesale Business in Illinois



Price: Not Specified

Other Item Info
Item #: debke_168113
Created: 05/15/2017
Category: Business Property > All Assets or Going Concerns > Food & Drug Retailers
Sale Location: New York, New York
Sale Date: Mon. Jun 26, 2017
Seller Info
David Queroli
Debtor's Attorney
920 North King Street
Wilmington, DE 19801
302-651-7700
Bankruptcy Info
Case #: 1:17-bk-10993
Case Title: Central Grocers, Inc.
Court: Delaware Bankruptcy Court
Chapter: 11
View Case Docket

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Description

Sale of substantially all of the assets of Central Grocers, Inc., which consist primarily of the grocery stores operated by Strack under the “Strack & Van Til,” “Ultra Foods,” and “Town & Country” banners (collectively, the “Strack Stores”), including related leasehold interests and inventory; an over 1,000,000 square foot warehousing and distribution facility located in Joliet, Illinois (the “Distribution Center”); and certain other real property owned by the company. The Sale include:

  1. Stalking Horse Package: nineteen (19) grocery stores operating under the “Strack & Van Til” and “Town & Country” banners identified on Schedule 1 (on the attached PDF) (collectively, the “Strack Stores”), the leasehold interests therein, and the inventory at the Strack Stores (collectively, the “Stalking Horse Package”);
  2. a distribution and warehousing facility located in Joliet, Illinois (the “Distribution Center”); and
  3. the real property owned by the Raceway Debtor entities.

Sale Location

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767 Fifth Avenue
New York, NY, 10153

Additional Details

Sale Price: Sale of nineteen (19) Strack Stores for an aggregate purchase price of $70 million, plus the cost of inventory at such Strack Stores, estimated to be approximately $30 million

Sale Hearing held on July 10, 2017

Bid Deadline: June 21, 2017, at 4:00 p.m.
Bid Deposit: 10% of the proposed purchase price

Objection Deadline: Objection Recipients by no later than (a) June 16, 2017, at 4:00 p.m. (prevailing Eastern Time), if the Sale Objection is with respect to a sale of the Stalking Horse Package; and (b) July 6, 2017, at 4:00 p.m. (prevailing Eastern Time)



Other Information

Terms and Conditions:

See attached.


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