As of this morning, Lucky’s Market corporate offices have confirmed that they are shutting down all but one Florida store in Melbourne, including five Central Florida locations, even the Colonial Landing shop which opened in May 2019.
The news was confirmed by the Sun Sentinel in a story this morning published HERE. We’ve reached out for a statement from corporate but had not received one at the time of this post.
The Kroger Co., a major investor in Lucky’s Market, pulled out its investment and walked away following an unfavorable portfolio review at the end of 2019. A hunt to find a new buyer to replace Kroger began immediately. Kroger reported taking a $238 million impairment charge along with a $107 million net loss they’re blaming on their investment in Lucky’s.
While a more public statement has not been made at this time, the following letter was sent to us by Bungalower reader Alex Gurtis who happens to be a freelance writer and employee of Lucky’s Market.
These closures will effect 2,500 employees.
“Lucky’s at Colonial Landing is closing. This morning, employees were called in for a mandatory 7 a.m. meeting. After a breakfast of eggs, bacon, and potatoes, management regretfully informed employees the Colonial location was among the 35 nationwide that would be shuttered following a company-wide portfolio review.
The Boulder, Colorado-based grocery chain had been struggling since Kroger announced it was divesting in early December after a three-year partnership, which left Lucky’s with a $107 million bill. The Organic food market had expanded from 16 stores to 39 in three years and recently opened an Orlando-based distribution center to service its 21 Florida stores. Lucky’s Market heavily invested in Florida and was projected to open 14 new locations in the state this year alone.
According to sources present at the announcement, store management made it clear that all Central Florida locations, including the South Orange store, were included in the closings. However, no official list was made available at the time of writing. Lucky’s Corporate is expected to issue a public announcement later this afternoon.
Starting on January 22nd, all products will be 25 percent off. The store projected to stay open until February 12th, dependent on how quick inventory goes.”