23 Lucky’s Market stores fetch $29 million at auction

NIWOT — At an auction held this week in Delaware, Lucky’s Market sold off 23 of its grocery store locations around the country for a total of $29 million, according to court documents filed Friday. 

The Boulder-born natural-grocery chain filed a series of Chapter 11 bankruptcy petitions in January and shuttered dozens of stores locations across the country.

That move came roughly a month after grocery giant Kroger Co. (NYSE: KR) announced that it would sell its investment stake in Lucky’s, which was founded in Boulder by chefs Bo and Trish Sharon.

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Kroger, the Cincinnati-based parent of King Soopers and City Market stores in Colorado, invested in 2016 in Lucky’s to form a “strategic partnership” with the local chain. Bankruptcy filings show Lucky’s owes $301 million to Kroger.

The following locations will remain Lucky’s Markets

• Lucky’s founders Bo Sharon and Trish Sharon, through holding company LM Acquisition Co. LLC, scooped up the North Boulder and Fort Collins stores for $1.16 million.
• Oryana Food Cooperative Inc. successfully bid on the Traverse City, Michigan, store for $860,000.
• Schnuck Markets Inc. bought the Columbia, Missouri, store for $860,000.
• Dave’s Supermarket Inc. will take over the Cleveland and Columbus store after bidding  $1.72 million.

The following locations will be converted to other grocery store brands:

• Publix Super Market Inc. bid $11.5 million for five stores in Florida.
• Aldi Inc. will take on six other Sunshine State locations for $7.8 million.
• Southeastern Grocers LLC (Winn-Dixie) paid $2.4 million for four stores in Florida.
• Dollar General bought Lucky’s Orlando distribution center for $1 million.
• Seabra Foods XIV Inc. bid $1.25 million for the Hunters Creek, Florida, (Orlando) store.
• Hitchcock’s Markets paid $275,000 for the St. Petersburg, Florida, store.