Wednesday, October 8th, 2008
By William Kincaid
Ole Fort IGA still open after foreclosure
Store official says various parties are bidding to buy it
FORT RECOVERY - Ole Fort IGA is now under the temporary ownership of First Merchants Bank of Indiana, according to store employees.
On Sept. 19 the bank changed the locks of the grocery store owned by John Sutter of Fort Recovery, according to store meat manager Dave Giesige.
Giesige said the store is being run by the bank and courts, which foreclosed on the store.
"It's pretty involved. There's a lot of scenarios (being) played out," he said this morning.
Giesige said the bank decided to keep the business open because it is the only grocery store in town.
Store manager Ron Van Skyock of Fort Recovery said he is running the store for the bank. If Sutter can come up with the necessary money - an amount Skyock would not reveal - he could retain ownership, he said.
Various parties are currently bidding to purchase the store. Those interested parties include a chain store and Van Skyock himself, Van Skyock said.
"We are in bad times right now, (but) I would love to own the store," he said this morning.
Van Skyock, who has managed the store for the last four owners, said he would retain all current employees and keep money local if his bid for the Ole Fort IGA is successful.
"I want to keep it local," he said.
According to Giesige, Sutter is no longer in town. He said an auction was held on Saturday to sell Sutter's personal belongings.
Sutter, who has owned the Ole Fort IGA for over a decade, purchased the former Big Bear grocery in Celina in 2004, but closed it in 2007 due to economic reasons, he said at that time.
Sutter could not be reached for comment by the newspaper.
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