Chippewa Falls (WQOW) – The receiver for Chippewa Falls-based Gordy’s Market Inc. announced Wednesday that that members of the Schafer family have entered into a purchase agreement to retain six stores in Chippewa Falls, Barron, Chetek, Cornell, Ladysmith and Lake Wissota.
The agreement came after an auction as part of the receivership proceeding, and a Chippewa County Court judge will be asked to approve the transaction at a hearing scheduled for Dec. 11.
The six stores are the last of 26 stores affected when Chippewa Falls-based Gordy’s Market was placed into receivership in late August 2017.
The receiver, Milwaukee attorney Michael S. Polsky of Beck, Chaet, Bamberger & Polsky, said a number of those stores have been closed. The others have been sold or have agreements to be sold, he added.
Jeff Schafer, president of Gordy’s Market, 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. “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.”