The larger grocery company that Dom's Kitchen & Market, the venture capital-backed upscale grocer that represented the latest food venture from the former chairman and CEO of Milwaukee-based Roundy's Supermarkets Inc., merged with just months ago is being put up for auction.
A notice of public sale has been filed for Foxtrot Market.
A foreclosure sale has been set for "substantially all" of the assets of Foxtrot Ventures Inc., Foxtrot Retail Inc. and the company's other holdings, according to a sale notice.
This comes after the Chicago-based food retailer closed all of its stores, just months after merging with Dom's Kitchen & Market, surprising both their customers and other food startups.
The sale will take place on May 10 at 10 a.m. Pacific time, according to the notice. The sale will take place on Microsoft Teams and will be conducted by DLA Piper, which serves a counsel to Foxtrot's secured creditor JPMorgan Chase Bank.
The assets to be sold include inventory, intellectual property, accounts, documents, furniture and more.
The notice made no mention of Dom's Kitchen & Market, which merged with Foxtrot in 2023 to become Outfox Hospitality, though with 33 stores across the country, Foxtrot had much more local and national market penetration.
At the time of its merger with Foxtrot, Dom's had two stores in the Chicago area and had a third Chicagoland location in the works on its way to a planned 15 locations.
The abrupt closure of the upscale convenience store chain has also drawn a trio of lawsuits in Washington, D.C., where local landlords are suing the retailer for nonpayment of rent.
Dom’s was founded by experienced grocery leaders and entrepreneurs. Bob Mariano, who previously served as the CEO of Roundy’s and Chicagoland grocer Dominick’s, teamed with Don Fitzgerald, the former senior executive at Dominick’s, Roundy’s and its upscale Mariano’s brand, and Jay Owen of Dom Capital Group, the great-grandson of Dominick’s founder Dominick DiMatteo, to established Dom's Kitchen & Market.
Mariano was CEO of the Milwaukee-based supermarket operator Roundy’s when Cincinnati-based Kroger Co. (NYSE: KR) acquired it for $800 million in December 2015. Mariano continued as CEO of Kroger’s Roundy’s division, which includes Pick ’n Save and Metro Market stores in Wisconsin and the Mariano’s brand in Chicago, which Kroger has proposed selling to appease antitrust concerns with its proposal to acquire Albertsons for $25 billion.
