Foxtrot’s Closed Down Assets Fetch $2.2M

Foxtrot’s assets fetched over $2.2 million at auction on Friday, as reported by Crain’s Chicago Business. Further Point Enterprises, a holding company, emerged as the buyer.

The sudden closure of all Outfox Hospitality stores on April 23, including the upscale convenience-store chain Foxtrot and the small-format grocer Dom’s Kitchen & Market, came as a surprise. Foxtrot, headquartered in Chicago, boasted 33 outlets spread across Chicago, Washington, D.C., Dallas, and Austin, Texas, while Dom’s had two stores in Chicago.

The auction, overseen via Microsoft Teams call, was administered by JPMorgan Chase Bank, representing Foxtrot as a debtor, and facilitated by legal counsel DLA Piper. The sale, with a closing deadline set for midday on May 13, was finalized, according to Crain’s.

While Foxtrot’s assets found a buyer, Dom’s Kitchen & Market assets failed to attract bids at the auction, as per Crain’s.

Further Point Enterprises, besides acquiring Foxtrot’s assets, boasts a portfolio that includes Athletic Brewing Co., Odd Bird, Bandits NYC, and more, as listed on its website.

Despite attempts to gather further details, responses from JPMorgan Chase Bank and Further Point Enterprises were not immediately available, as per CSP’s inquiry.

The closure of Foxtrot and Dom’s followed less than half a year after the merger announcement and the formation of Outfox Hospitality. In the aftermath, several employees have initiated legal action against the company, citing lack of the mandated 60-day notice prior to termination.

Established in 2014 as a delivery service specializing in snacks, beer, and wine, Foxtrot evolved into a unique blend of corner store and restaurant, offering premium packaged goods, ready-to-eat meals, coffee bars, and wine bars. Touted as the “convenience store of the future,” the chain amassed over $160 million in funding to propel its expansion.