Lucky’s Market, which recently announced plans to sell off 32 of its 39 locations and filed for Chapter 11 bankruptcy protection, has agreed to sell seven locations that will continue to operate to a group led by Bo and Trish Sharon, the founders of the company.
These stores are located in Traverse City, MI; Cleveland, OH; Columbus, OH; Columbia, MO; Melbourne, FL; North Boulder and Fort Collins, CO, and currently employ approximately 600 employees.
“We are grateful to our wonderful team members and customers for all their support, dedication and loyalty over the years,” said Bo Sharon. “While this is a difficult situation across our company, we remain passionate and optimistic that we can continue to offer our communities access to healthful foods in this smaller footprint, preserving hundreds of jobs.”
On Jan. 21 the company disclosed that it would be closing its remaining stores. On Jan. 27, after careful deliberation and a thorough review of strategic and financial alternatives, the company decided to voluntarily file for Chapter 11 protection to facilitate the sale of its remaining assets and signed asset purchase agreements with ALDI for five leased store properties and the purchase of one owned property (six total) and Publix Super Markets Inc. for five leased store properties. The stores subject to the ALDI APA include Coral Springs, FL; Oakland Park, FL; Sarasota, FL; Vineland, FL; Colonial Landing (Orlando), FL and Venice FL. The stores subject to the Publix APA include Naples, FL; Neptune Beach, FL; Clermont, FL; South Orange (Orlando), FL, and Ormond Beach, FL.
The asset purchase agreements are subject to court approval and an overbidding process, and the company continues to have active dialogue with various additional potential buyers.
