NATIONWIDE — Lucky's Market has filed for Chapter 11 bankruptcy, the company announced Monday.
- Lucky's Market files for Chapter 11 bankruptcy
- The grocery chain is also closing dozens of stores across country
- In December, Kroger said it would divest its stake in company
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"After careful deliberation and a thorough review of the strategic and financial alternatives, the company has decided to voluntarily file for Chapter 11 protection to facilitate the sale of its remaining assets," the company said in a statement.
Lucky's Market also announced it has entered into an asset purchase agreement to sell six stores to ALDI and five stores to Publix.
Publix is looking to purchase Lucky's Market leases in Clermont, Naples, Neptune Beach, Orlando and Ormond Beach.
"The asset purchase agreement is subject to court approval and an overbidding process," according to a news release.
The news comes a week after the company said it would be closing dozens of its stores across the country, including locations in Florida. The West Melbourne store is the only Florida store that will remain open, a company spokesperson said again Monday.
Stores slated for closure have begun running liquidation sales.
In 2016, Kroger invested an undisclosed amount of money in Lucky's Market. But in December, Kroger announced plans to divest its stake in the company.