Will Algonquin's Caputo & Sons Remain Open?

The real estate, fixtures and inventory at Algonquin's Joe Caputo & Sons will go up for auction on May 12, but that does not essentially mean the popular grocery store will be closing.

All of the suburban Caputo stores heading to the auction block are expected to remain open through the auction date, and after that, the hope is that a new landlord take over operating the stores, Katie Churchill, vice president of Murray Wise Associates in Champaign, told the Daily Herald.

The assets for the three remaining Caputo stores in Algonquin, Des Plaines and Palatine will be sold at public auction on May 12 at the Hyatt Regency in Rosemont.

>>> RELATED: Joe Caputo & Sons' Algonquin Store Heads to the Auction Block in May

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.

>>> RELATED: Joe Caputo & Sons Closes Two Stores in Chicago Suburbs

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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