May 15, 2012 — Morehead residents have eagerly awaited an announcement regarding what would become of the former Slone’s Signature Market.
The word came Monday and it was good news for those wanting a downtown grocery store.
The Allen family announced it will reopen Allen’s IGA in the location that originally housed that grocery store 23 years ago.
Lee Allen told The Morehead News that if things continued to go as planned, the store would open in three weeks.
“I’d say this is an optimistic time frame, but things have been coming together quickly since the bankruptcy court’s decision,” Lee Allen said.
Bob Slone, owner of Slone’s Signature Markets in several communities, filed for bankruptcy last month.
His local assets included a building lease, store stock and an unpaid line of credit with grocery wholesaler Nash Finch.
“We could not enter the store or begin talking with Nash Finch until the bankruptcy judge gave the OK,” Allen said. “The case was heard last week, allowing us to start putting the pieces together.”
“Nash Finch has been very cooperative and more than generous, they want the store to reopen. “We don’t anticipate any hurdles.”
The Allen family said they would be rehiring all former Slone’s employees.
According to Hubert Allen, the original Allen’s IGA started on Main Street in Morehead in 1951. “In 1957 we moved to the present location and were there until 1989 when it was sold to Bob Slone.”
Hubert Allen said that he got caught in the middle of something he really didn’t know anything about when Slone’s folded.
“The future of this store was in the hands of the bankruptcy court and Nash Finch. We were in the middle as the property owners who issued the lease,” he said. “We didn’t know who owned what or how much until this week.”
Both father and son agreed that Morehead needs a grocery store downtown.
“This has been a waiting game for a short time and we are glad to see things being resolved,” said Hubert Allen.
According to the Allens, cleanup, restocking and store organization will begin this week.
Kim Bandura can be reached at email@example.com or by telephone at 784-4116.