The Indianapolis Star reports on how Marsh Supermarkets – faced with declining profits and forced to consider the possible sale of the company even as its board of directors fired four Marsh family members who held executive positions – plans to “abandon its turf war with giants such as Wal-Mart Supercenters and Super Targets and focus on smaller stores and merchandise, such as bakery, milk, meat, deli items and vegetables.”
The company may actually move some existing stores into smaller, more tightly focused locations.
According to company chairman Don Marsh, "We can achieve what the customer wants with less overhead, less space and, at the end of the day, more convenience.” And company CFO Douglas Dougherty says, “We are emphasizing what we are the strongest at.”
The company reportedly still is considering a sale, but its current competitive woes and a $200 million debt load may make it harder to find a suitor.
It has gotten to the point when Marsh now is quoting movie stars. "It's like what Clint Eastwood said," Marsh tells the paper. “’A man's got to know his limitations.’ But we are not dead.”
The company may actually move some existing stores into smaller, more tightly focused locations.
According to company chairman Don Marsh, "We can achieve what the customer wants with less overhead, less space and, at the end of the day, more convenience.” And company CFO Douglas Dougherty says, “We are emphasizing what we are the strongest at.”
The company reportedly still is considering a sale, but its current competitive woes and a $200 million debt load may make it harder to find a suitor.
It has gotten to the point when Marsh now is quoting movie stars. "It's like what Clint Eastwood said," Marsh tells the paper. “’A man's got to know his limitations.’ But we are not dead.”
- KC's View:
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This is all well and good, but there are some curious omissions here…like the fact that many of the company’s troubles seem to stem from the fact that it was a public company run much like a private concern, with family members taking advantage of their position to look out for their own interests rather than those of the shareholders.
That certainly was the implication when Marsh’s troubles hit the fan earlier this month.
The company can tighten its focus and its belt all it wants. It seems likely that there eventually could be shareholder litigation in this case, not to mention a probe by some government entity or another.
Clint Eastwood also once said, “If you think it's going to rain, it will.”
The folks at Marsh should invest in some umbrellas. And maybe a sump pump.
