Business & Tech
Joe Caputo & Sons' Algonquin Store Heads to the Auction Block in May
Assets from the locations in Palatine and Des Plaines also will be sold off at a public auction.
The final three Joe Caputo & Sons grocery stores are heading to the auction block next month, Crain's Chicago Business reports.
The assets for the remaining stores in Algonquin, Des Plaines and Palatine will be sold at public auction May 12 at the Hyatt Regency in Rosemont. Despite the sale, the three stores will stay open until the auction, the Chicago Tribune reports.
RELATED: Joe Caputo & Sons Closes Two Stores in Chicago Suburbs
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The auction comes months after a federal lawsuit claimed the grocery chain's Elk Grove Village store didn't pay for $3.6 million in produce from a wholesaler, according to Crain's. That store had only just opened in November 2015 and then closed in February after a judge gave the wholesaler control over the chain's assets in order to pay off the debt.
Unrelated to the lawsuit, Caputo & Sons—which opened in 1989 as a single Des Plaines store—also closed stores in Arlington Heights and Northbrook in November of last year.
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