GROUP 2: We represented Hannaford Brothers, Inc., a large Portland, Maine based supermarket chain to handle acquisition of new sites for expansions in Virginia, North and South Carolina. After successfully finding suitable locations for Hannaford, the chain merged into Food Lion, but only after consenting to a Justice Department requirement that all Hannaford stores in Virginia, North and South Carolina be closed and sold. We were engaged to handle the disposition of their 30 stores.

SCOPE OF ASSIGNMENT

• Took charge of every site.
• Secured buildings, insured that all fire and burglary systems including sprinklers were operational.
• Arranged for and placed insurance.
• Cleaned interior and exterior of stores.
• Hired vendors for on-going maintenance.
• Arranged for set up of necessary utilities.
• Prepared marketing materials.
• Contacted potential national and local users.
• Reported to clients monthly.
• Provided full contract negotiation.
• Provided Sell/Lease advisory services.
• Highest and best use studies.
• Obtained marketable title.
• Managed the legal process through the bankruptcy court.
• Provided full asset management.
• Resolved several years’ worth of CAM disputes.
• Sold all sites and recovered 100% of investment.
• Appealed all tax assessments.

RESULTS
Found numerous stores where the former occupant had left display racks and equipment. We arranged for auctions to dispose of items. Maintained all stores in showable condition.

Negotiated sales of 12 of the 17 Hechinger/Home Quarters Warehouse stores to retailers such as Sears, Home Depot, Burlington Coat Factory and Kohl’s.

Disposed of numerous Hannaford stores either through sale or lease.

Investment recouped, tax appeals successful, taxes refunded. Collected administrative claims from Bankruptcy Court.