Will Sickles Market reopen? The fate of Little Silver's century-old family business is about to be decided.
Sickles Market in Little Silver closed in March, part of a series of financial difficulties that took down one of Monmouth County's most storied family businesses.
Sickles' owner Robert Sickles and AHS Realty LLC, his business which holds the land of the Little Silver store, filed for bankruptcy protection last summer.
1663 Partners LLC, came forward with a willingness to reopen Sickles Market and hire Sickles, his two daughters, and a former employee to run the store. The group also is sponsoring Sickles' Chapter 11 plan of reorganization, court papers said.
Little Silver business:From baking at home to a store of their own: Benchmark Breads opens
Need a break? Play the USA TODAY Daily Crossword Puzzle.
Now the case is coming down the wire.
Ballots from some creditors, including former employees, who are voting on the bankruptcy reorganization plan filed by Sickles and AHS Realty, are due by 4 p.m. Tuesday with the results announced on Friday, according to the case's docket. A hearing on whether to confirm the plan is scheduled for Jan. 21 before U.S. Bankruptcy Court Judge Christine M. Gravelle in Trenton.
Sickles' lawyer Daniel Stolz could not be reached for comment.
What happens if the Sickles plan is approved?
Investment group 1663 Partners, which is funding Sickles' emergence from bankruptcy and paying creditors, will become the new owners of Sickles Market as well as the land and the market's intellectual property.
The group has said it hopes to reopen this summer and plans to hire Sickles, his two daughters, and a former employee to run the store. None of the current insiders would have an ownership stake in the new Sickles Market, according to court papers.
Little Silver business:Sisters-in-law make your wedding unforgettable with these details
What about former Sickles employees?
The plan would fully pay back wages as well as two weeks' severance to Sickles' former employees. According to court papers, among Sickles' debts is $300,000 in back wages that were not paid to employees.
What about Sickles gift cards?
If Sickles Market reopens, 1663 Partners has said it would put in place a program to honor approximately $800,000 worth of previously sold gift cards. In a bankruptcy process, gift cards are typically rendered useless.
What's Going There?What will replace these closed Stop & Shops in Monmouth and Ocean counties?
What happened to Sickles Market?
Financial problems at Sickles Market, a 116-year-old family business, became evident after the abrupt closure of Sickles' new store in Red Bank in February and then Sickles Market, its landmark homebase in Little Silver, in March. A sister liquor store in Red Bank, Bottles by Sickles, closed in April after eviction proceedings.
It resulted in lawsuits from vendors and suppliers.
In a certification filed in bankruptcy court in May, Sickles pointed to the poor performance of Sickles Market's 2020 expansion into Red Bank's West Side, the COVID lockdown and its aftermath and effects on sales at the Little Silver market for the company's troubles.
What's Going There?ShopRite in 2025: Here's what to expect from three upcoming Jersey Shore supermarkets
David P. Willis, an award-winning business writer, has covered business, retail, real estate and consumer news at the Asbury Park Press for 27 years. He writes APP.com's What's Going There column and can be reached at [email protected]. Please sign up for his weekly newsletter and join his What's Going There page on Facebook for updates.