Publix bids nearly $14M for 5 Lucky’s stores

NIWOT — Publix is offering $13.78 million to take over five Lucky’s Markets locations in Florida, according to newly filed bankruptcy documents.
Lucky’s, which has filed Chapter 11 bankruptcy protection, plans to offload locations in Clermont, Naples, Neptune Beach, Orlando and Ormond Beach to Publix, a large grocery-store chain that operates mainly in the Southeast.
Publix has submitted a stalking-horse bid for the five stores leases and other assets such as furnishings, fixtures and liquor licenses, court documents show.

A stalking-horse bid is an offer made to a company in bankruptcy in advance of an auction. The stalking horse serves as a sort of backstop to ensure excessively low bids are not submitted.
If other bids are received, an auction will be held March 11 in Delaware.
Lucky’s has a separate agreement to sell six Florida store locations to German grocer Aldi. Lucky’s Market founders Bo and Trish Sharon plan to buy seven locations, including the Fort Collins and north Boulder stores. Financial details on those deals have yet to emerge.