Lucky’s Market to close dozens of stores in 10 states

Lucky’s Market appears on the brink of shuttering dozens of stores in 10 states, with the planned closures reportedly coming on the heels of Kroger’s decision to sell its stake in the natural foods chain. 

The South Florida Sun-Sentinel on Tuesday reported that 20 Lucky’s stores would close by Feb. 12, leaving just one store open in the state. Separately, the Missoulian reported that the Lucky’s in Missoula, Montana, would soon shut down. And the trade publication Progressive Grocer reported that Lucky’s would close 32 stores in 10 states.  

Lucky’s did not immediately return a request for comment.  

Founded in 2003 by married chefs, the Colorado company had 17 stores when Kroger invested in Lucky’s in 2016. The specialty grocer has since expanded to 39 stores, most of them in Florida.

But in December Kroger said it would divest the chain and take a $238 million charge. “The amount of investment that it would take for Lucky’s to be a meaningful contributor to Kroger overall, and the efforts that it would take, we just didn’t think it created a good return for the investments that were needed to be made,” CEO Rodney McMullen said in an earnings call early last month. 

A planned location set to open in Denver next year has now been shelved, according to another media report, while a local outlet reported a 25% off sale was slated for next week at a soon-to-close Lucky’s store in Jackson, Wyoming. In Kentuckky, Louisville Business First reported the only Lucky’s would also close. 

As of last year Lucky’s had 2,500 people employees and revenue of $569.5 million in revenue, according S&P Capital IQ.