Foxtrot’s assets were sold at auction Friday for more than $2.2 million, according to Crain’s Chicago Business. The buyer was holding company Further Point Enterprises.
Outfox Hospitality, the group that owned upscale convenience-store chain Foxtrot and small-format grocer Dom’s Kitchen & Market, abruptly closed all stores April 23. Chicago-based Foxtrot had 33 locations in Chicago, Washington, D.C., Dallas and Austin, Texas. Dom’s had two stores in Chicago.
The auction of Foxtrot’s assets took place over a Microsoft Teams call and was conducted by JPMorgan Chase Bank, to which Foxtrot was a debtor, through its counsel, DLA Piper. The closing deadline was for midday May 13, and the sale was final, Crain’s reported.
The assets for Dom’s Kitchen & Market were also up for auction Friday, but were not sold, according to Crain’s.
Further Point’s current portfolio also incudes Odd Bird, Bandits NYC and more, according to its website. Foxtrot was already listed as of Friday afternoon.
JPMorgan Chase Bank and Further Point Enterprises did not immediately respond to CSP’s request for more details.
The closures of Foxtrot and Dom’s came less than six months after the companies announced a merger and formed Outfox Hospitality.In the weeks since, several employees have filed lawsuits against the company, alleging they were not provided with the required 60-day notice before their jobs were terminated.
Foxtrot was founded in 2014 as a delivery company selling snacks, beer and wine, and grew into a corner store-restaurant hybrid that featured high-end package goods, prepared foods, coffee bars and wine bars. The chain, once billed as the “convenience store of the future,” raised more than $160 million to fuel its growth over its lifetime.
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