Credit Union forecloses on grocery store
An Onalaska credit union has foreclosed on a New Lisbon grocery store. According to the civil complaint filed in Juneau County Circuit Court on Friday, the Marine Credit Union of Onalaska has foreclosed on the Grocery Depot, LLC in the amount of almost 1.9-million. In addition, the complaint states the company operating the grocery store, Cloverleaf R&T, Incorporated has failed to make payments and defaulted on a 258-thousand dollar loan. The complaint states the mortgage premises has been abandoned. A Security Agreement provided that upon default, the plaintiff may take possession of the collateral which includes inventory, all equipment, fixtures, and other intangibles. The collateral is being detained by the defendant and cause of the detention is unknown. The civil complaint is also seeking a money judgment against Defendant, Roger McGuire, a member, shareholder, and officer of the Grocery Depot, LLC and Cloverleaf R&T, Incorporated. The complaint alleges McGuire is liable to Marine Credit Union for the unpaid balances.
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