Yesterday, MNB reported that troubled Marsh Supermarkets, which is closing 10 stores, now is closing its pharmacies and selling its prescription records and drug inventory to CVS, all in an effort to reduce expenses.
Well, it is even worse that that.
The Indianapolis Star reports that Marsh also has to sell all its hard liquor stocks and has to get out of the hard booze business.
According to the story, "Thanks to an obscure Indiana law, Marsh will not be allowed to sell liquor once that transaction is completed. The reason is in line with Indiana's convoluted alcohol laws. In general, drug stores are allowed to sell liquor in Indiana, while supermarkets can only sell beer and wine. But, of course, there's a loophole. Grocery stores with pharmacies qualify for drug store permits."
But now, for Marsh, that loophole is closed.
Well, it is even worse that that.
The Indianapolis Star reports that Marsh also has to sell all its hard liquor stocks and has to get out of the hard booze business.
According to the story, "Thanks to an obscure Indiana law, Marsh will not be allowed to sell liquor once that transaction is completed. The reason is in line with Indiana's convoluted alcohol laws. In general, drug stores are allowed to sell liquor in Indiana, while supermarkets can only sell beer and wine. But, of course, there's a loophole. Grocery stores with pharmacies qualify for drug store permits."
But now, for Marsh, that loophole is closed.
- KC's View:
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I don't think we're at "dead company walking" yet. But we're getting very close.
