Lucky’s Market files for Ch. 11 bankruptcy

ALDI and Publix will take over some of Lucky’s leases

Miami /
Jan.January 28, 2020 11:30 AM
Lucky’s Market (Credit: Google Maps)

Lucky’s Market (Credit: Google Maps)

Talk about bad luck.

Lucky’s Market filed for Chapter 11 bankruptcy protection and has reached an agreement with Aldi and Publix to take over some of its leases.

The company previously announced it will close 32 stores across the country, including all 20 of its locations in Florida with the exception of its Melbourne store.

Lucky’s said it reached an agreement with Aldi to lease five stores and buy one property. The grocery giant Publix Super Markets will also lease five of Lucky’s store properties, according to a press release.

Lucky’s said it “continues to have active dialogue with various buyers.”

Lucky’s will also continue to operate its stores in Traverse City, Michigan; Cleveland and Columbus, Ohio; Columbia, Missouri; North Boulder and Fort Collins, Colorado.

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.” It was founded by Trish and Bo Sharon in 2003.

The company had planned to open new locations in Delray Beach, Boca Raton and Miami this year, according to its website.

The grocery chain is one of the few competitors in Florida to Publix, which dominates the supermarket landscape in the Sunshine State. 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 an 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 said it has sufficient cash on hand at the time of the filing, and the company should have the continued ability to meet its financial obligations, according to the release.


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