Earth Fare stores, leases, intellectual property — even recipes — for sale
The wind-down of natural and organic specialty grocer Earth Fare continues.
The grocer has selected A&G Real Estate Partners and Hilco Streamback to market and sell all Earth Fare stores and leases, and its intellectual property, respectively. Earth Fare, which has about 50 stores in 10 states, filed for bankruptcy protection on February 4, 2020, and is currently holding liquidation sales.
The Earth Fare stores range in size from 17,000 sq. ft. to 38,000 sq. ft. (with an average of about 25,000 sq. ft.) and generally have long lease term available with options. Many are in great shape, with nice interiors and fixtures that are typical of the specialty organic category, according to A&G.
"Interested parties should contact AGREP immediately, as liquidation sales are expected to conclude no later than February 29, 2020," said Emilio Amendola, co-president of A&G Real Estate Partners. We anticipate strong interest among well-capitalized grocers with forward-looking business models."
Hilco Streambank is conducting the sale of Earth Fare's intellectual property assets, including its trademarks, customer data, domain names, social media assets and recipes.
"The brand has a rich history in the health and wellness retail market, and is well known for holding food manufacturers to the highest standards," commented David Peress, executive VP of Hilco Streambank. "The Earth Fare brand aligns with the values of today's consumer.”
Earth Fare is being advised by FTI Consulting, a global advisory firm, as financial advisor and chief restructuring officer.