After just over a year of operation at their new location in Calumet, Louie’s Fresh Supermarket is filing for Chapter 11 federal bankruptcy protection.
The store is one of two Louie’s markets in the case, both of which are owned by Lakes Super Market Incorporated. The other market is located in Lake Linden.
The Quality Hardware store there is also a part of the filing, as well as the gas stations at both supermarket locations. LJNG LLC, the real estate holding company for Lakes Super Market, is also filing for Chapter 11 bankruptcy.
According to the files, both companies owe over 170 creditors approximately $12.5 million between them, with their combined assets totaling about $3.5 million. Their attorney, Dane Bays, says the filing allows both stores to remain open as the company attempts to restructure its debt. This means no layoffs are expected for the workforce of over 100 people.
The case was filed this past Tuesday in U.S. Bankruptcy court in Marquette.