CHIPPEWA FALLS, Wis. —Members of the Schafer family have entered into a purchase agreement for six Gordy’s stores — including Chippewa Falls and Lake Wissota — that were slated to be auctioned off Wednesday, according to receiver Michael Polsky.
Polsky, a Milwaukee attorney, has been involved in the sale and negotiation of Gordy’s Market entities since the chain entered receivership in August.
The purchase agreement — which involves stores in Chippewa Falls, Lake Wissota, Cornell, Ladysmith, Barron and Chetek — was made after the Wednesday morning auction, the release said. Judge James Isaacson is slated to approve the sales at a hearing at 1:30 p.m. Dec. 11 in Chippewa County Circuit Court.
“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,” said Jeff Schafer, Gordy’s Market president, in a written statement.
Schafer also said running six stores — instead of 26, as of earlier this year — will allow the company to become closer to its roots. The company began in 1966; members of the Schafer family have owned and operated the company since its inception.
The chain entered receivership in August, and has since sold stores in Black River Falls, Osseo, Augusta, Whitehall, Shell Lake, Spencer, Eau Claire, Hayward and Chippewa Commons.
No mention was made of the Gordy’s Stanley location, which was not included in the six stores auctioned Wednesday at the Milwaukee Athletic Club.