Foxtrot Gold Coast and Old Town stores expected to reopen soon

• Employees quickly filed lawsuits alleging the company didn't give them proper termination notice. Vendors, many of them local, were reportedly left with unpaid invoices and questions about their products on the shelves.

Driving the news: Crain's reports the two Chicago locations most likely to reopen are the Gold Coast and Old Town stores.

Catch up quick: After filing for Chapter 7 bankruptcy last month, New York-based venture capitalist firm Further Point Enterprises, reportedly associated with Foxtrot founder Mike LaVitola, purchased the company's assets for $2.2 million, leading to rumors LaVitola was staging a comeback.

Reality check: Crain's and other outlets have reported that the company's expansion plans were too aggressive, and a former employee told Axios Chicago that a poorly designed inventory tracking system led to uncontrolled spending.

What they're saying: Calls and emails to a number and email associated with LaVitola were not returned.