Monday, December 18, 2017

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Six Gordy’s Market stores staying in family

Attorney: Purchase agreement made after auction, judge to hold hearing Dec. 11

  • Gordy-s-Market-1

CHIPPEWA FALLS — The Schafer family has retained ownership of six Gordy’s Market stores.

The chain will continue to own and operate the stores in downtown Chippewa Falls, Chippewa Falls on Lake Wissota, Cornell, Barron, Chetek and Ladysmith.

Attorney Michael Polsky, who was appointed as receiver to oversee the sale of the grocery chain and its assets, announced Wednesday afternoon that the Schafers entered into a purchase agreement to retain the six stores.

“The agreement came after an auction as part of the receivership proceeding, and a Chippewa County judge (James Isaacson) will be asked to approve the transaction at a hearing scheduled for Dec. 11,” Polsky’s office announced in a news release.

Jeff Schafer, Gordy’s Market president, said operating a smaller organization puts the company closer to its roots.

“This transaction is in the best interest of our business, our customers, our vendors and our communities, and we are hopeful that the judge will issue his approval in December,” Schafer said in the news release. “We look forward to moving beyond this challenging chapter, returning to our core business and continuing to serve the northwestern Wisconsin region that has been home to our family business for 51 years.”

Gordy’s Market had 26 stores at the beginning of the summer, but several closed, and the rest have been sold, except for these six stores. However, the sale of the Neillsville location has been held up because of confusion over ownership and who has the right to lease out the building.

Contact: 715-723-0303, chris.vetter@ecpc.com


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