By La Risa Lynch
A Chicago grocery store that has been a staple in the black community for nearly 30 years will either be sold or face liquidation, the Austin Weekly News has learned.
A decline in sales and a sagging economy could force Moo & Oink Inc. to liquidate its assets “as soon as reasonably possible,” according to a letter sent to the company’s creditors on Aug. 2 by Steven Nerger, who has been appointed by the company as trustee and assignee for the benefit of creditors of Moo & Oink Inc.
Moo & Oink owns three stores in Chicago, including an Austin location at 4848 W. Madison St. The company also operates two stores on Chicago’s South Side.
“I expect to operate the three retail stores for a limited period of time while I attempt to sell the business,” Nerger wrote in the letter. “However, if a sale cannot be completed, I will liquidate the inventory and sell the equipment and intangibles as soon as reasonably possible.”
Nerger states in the letter that creditors will receive a status report on the liquidation within 60 to 90 days.
To read the rest of the Austin Weekly News story, click here.