updated: 10/19/2006 1:21:10 PM

Marsh to Close 16 Stores in Indiana, Ohio

Inside INdiana Business Report

Indianapolis-based Marsh Supermarkets, Inc. says it will close 16 of its grocery and convenience stores throughout Indiana and Ohio by Thanksgiving.

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The closings include seven LoBill stores, two Arthur's Fresh Markets, two O'Malia stores, four Village Pantry stores and one Marsh supermarket. The cities that will be affected by the closures include Indianapolis, Winchester, Muncie and Kokomo.

The company also says there will be layoffs at its corporate headquarters.

Source: Inside INdiana Business

Press Release

-- Today, Marsh Supermarkets, Inc. announced to its Associates that we will be closing 12 of the 116 supermarkets we currently operate in Indiana and Ohio under the Marsh, LoBill Foods, O’Malia’s Food Markets and Arthur’s Fresh Market banners. We are also closing 4 Village Pantries.

-- We will close 1 Marsh store, 7 LoBill Foods stores, 2 O’Malia’s Food Markets and both Arthur’s Fresh Markets before Thanksgiving. The affected supermarket numbers are: 16, 207, 208, 304, 334, 335, 337, 340, 344, 346, 671 and 672.

-- In addition, we will be closing 4 Village Pantries. Those store numbers are: 405, 421, 557 and 576.

-- A list of the locations affected by today’s announcement follows.

-- The actions we announced today are intended to improve the Company’s financial performance.

-- After extensive review, it was determined these stores did not meet our business requirements regarding sales, location and/or future growth potential. While it was a difficult decision, the Marsh management team is committed to improving our cash flow and strengthening the Company’s competitive position in the marketplace.

-- Marsh is actively seeking buyers or tenants for the affected stores. We do not know at this time how long the sale process for each location will take.

-- We expect to have all stores closed by Thanksgiving. In-store signage will alert customers to the specific closing date for each location. None of the affected stores has an in-store pharmacy.

-- All affected Marsh Associates will be offered the opportunity to apply for a transfer to another location or to receive a severance package. Our goal is to place as many Associates as possible in our other locations.

-- Our corporate office is the support team for our retail operations. With fewer stores to support, it makes sense that we would in turn need to reduce our Corporate office staff to a similar extent. All Corporate Associates affected by this announcement will be notified today and will be offered severance packages. The changes at the office are effective today.

-- Marsh Supermarkets Inc. Chairman, CEO and President Frank Lazaran will be in meetings today with our Associates. While we will try to accommodate requests for interviews, he may not be available at certain times. For your convenience, we are providing the following quote that may be attributed to him regarding today’s announcement.

--“Today’s announcement is a difficult but important first step in improving Marsh’s profitability. We will continue to develop our strategic plan to move Marsh forward in sales and profitability. We have an incredible team of Associates who are dedicated to providing our customers with exceptional service. I am excited about where this company is headed. We are committed to providing our customers with the best service in the most convenient locations. While we regret that this decision will impact several of our Associates, we will do everything possible to help them find another position within the company or give them a severance package to ensure a smooth transition for them and their families.”

-Frank Lazaran, Chairman, President and CEO of Marsh Supermarkets, Inc.

Stores to close

Marsh - 936 E. Washington, Winchester
LoBill - 990 Chester Blvd., Richmond
LoBill - 3919 Madison Ave., Indianapolis
LoBill - 1033 Indianapolis, Greencastle
LoBill - 190 Old Farm Village, Danville
LoBill - 1107 N. Arlington Ave., Indianapolis
LoBill - 3737 E. Washington, Indianapolis
LoBill - 395 Martin, Greenville, OH
O'Malia - 2342 W. 86th St., Indianapolis
O'Malia - 7405 W. 10th St., Indianapolis
Arthurs - 107 W. Pickwick Drive, Syracuse
Arthurs - 5802 West US 52, New Palestine
Village Pantry, 2005 W. Memorial Drive, Muncie
Village Pantry, 3715 E. Jackson St., Muncie
Village Pantry, 312 N. Phillips, Kokomo
Village Pantry, 4 West Main St., Chesterfield

Source: Marsh Supermarkets, Inc.

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