By Kris Leonhardt
MARSHFIELD — The Spencer and Neillsville Gordy’s Market locations were two of 15 stores sold in an auction Sept. 25 with final approval received in a Sept. 28 motion hearing.
The Chippewa Falls-based Gordy’s Market announced Aug. 23 that it would enlist the aid of a receiver to improve its financial operations.
Michael S. Polsky of Beck, Chaet, Bamberger & Polsky operated as receiver and promptly closed down underperforming stores in the family-owned grocery chain, one of which was the Spencer location. The Neillsville store remained open.
The Sept. 25 auction was court ordered to help pay off the Gordy’s debts. The Neillsville location was sold to Family Foods for the sum of $150,000 plus inventory, and the Spencer location was purchased by Settlers bank, based in the Madison area, for $400,000 plus inventory.
Plans for the stores have not been disclosed.