Lucky’s Market
After Kroger revealed that it would divest its interest in Lucky ‘s Market in December, observers in the grocery industry wondered if the regional chain might be at risk. Lucky’s filed for Chapter 11 bankruptcy the next month. Here’s another supermarket for natural foods that, after struggling to compete against Whole Foods, had to back pedal.
Established in 2003 and using the slogan “Organic for the 99 percent,” Colorado-based Lucky’s Market filed for Chapter 11 bankruptcy in late January and agreed to shutter 32 of its 39 stores in 10 states. According to media reports, the firm intended to sell the remaining seven.
At one time, Lucky’s was so hot that it attracted a substantial investment from Kroger, America’s biggest supermarket group. The money from Kroger helped Lucky’s expand from just 17 stores to almost 40 within three years, but in late 2019, Kroger pulled the plug on the relationship.