Foxtrot Assets Sold at Auction Following Sudden Closure
Foxtrot’s assets were sold at auction Friday for more than $2.2 million, reported Crain’s. The buyer was holding company Further Point Enterprises. The auction was conducted by JPMorgan Chase Bank, a debtor of Foxtrot, through its counsel, DLA Piper.
The sale of the assets follows the sudden move by Outfox Hospitality, the group that owned Foxtrot and small-format grocer Dom’s Kitchen & Market, to abruptly close all stores in multiple states last month. Chicago-based Foxtrot had 33 locations in Chicago, Washington, D.C., Dallas and Austin, while Dom’s had two stores in Chicago.
According to Crain’s, Foxtrot’s auctioned assets included goods, equipment, inventory, intellectual property, figures and more. Leases were not included. Assets belonging to Dom’s Kitchen and Market were also put up for bid but were not sold. The company is also facing several lawsuits from employees who allege the sudden closures did not provide the required 60-day notice under the Fair Notice Ordinance before jobs were terminated.
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