Nash Finch to write-down value of stores
Minneapolis Nash Finch Co. will likely report a non-cash goodwill impairment charge of about $69.9 million for its 2009 fiscal year, according to the Business Journal of Milwaukee.
The charge is related to the company’s retail business, which includes nine stores in Wisconsin. Nash Finch is appraising the value of that business and now expects a “significant portion of its retail goodwill will likely be written off.”
Nash Finch primarily distributes food to grocers. However, it also owns several supermarket chains, including Sun Mart, Econofoods and Family Fresh Market.
Family Fresh Market operates stores in Hudson and New Richmond, while Econofoods has seven stores in across north-central Wisconsin.