The popular grocery chain Lucky’s Market is closing almost all of its Florida stores, a month after Kroger announced that it would pull back its investment in the company.
Lucky’s plans to close 20 stores in Florida, including its stores in Coral Springs, Oakland Park and Plantation by Feb. 12, according to the Sun Sentinel. The company’s West Melbourne store is the only store that will remain open in the Sunshine State, the Sun Sentinel reported.
The planned closures could leave a number of stores vacant for some time, according to real estate experts.
Jaime Sturgis, the founder of Fort Lauderdale-based Native Realty, said Lucky’s landlords could look to the grocery store chain Sprouts Farmers Market or salon suites, a coworking concept for the salon industry, to fill the space. He added that other nearby tenants are going to be hurt now that the anchor tenant is leaving and traffic will be down.
“It’s going to have some shock waves, especially for the stores actively under construction,” said Sturgis.
The company planned to open new locations in Delray Beach, Boca Raton and Miami in 2020, according to its website.
Lucky’s spokesperson did not immediately return voicemail and email requests for comment.
The Boulder, Colorado-based company has 39 stores in 10 states, according to its website. Lucky’s became known for its moderately priced health-conscious food with the slogan “organic for the 99 percent.”
The grocery chain is one of the few competitors to Publix, which dominates the supermarket landscape in Florida. Still, other grocery retailers have been expanding in South Florida, including Trader Joe’s, which opened its first store in Miami Beach in August.
In December, Kroger announced on Dec. 5 earnings call that it would divest its stake in Lucky’s. Kroger first invested in the company in 2016. Kroger does not currently operate any stores in Florida, according to its website.
Lucky’s was founded by Trish and Bo Sharon in 2003. Across the country, Lucky’s could shut down 32 out of its 39 store locations, according to progressivegrocer.com.