Lucky’s Market has filed for Chapter 11 bankruptcy protection and signed an asset purchase agreement with Aldi for five leased store properties and the purchase of one owned property, reports Progressive Grocer. According to the retailer, the agreement is subject to court approval and an overbidding process.
M&A investment bank PJ Solomon, which Lucky’s has retained to assist in the sales of its assets, says Lucky’s "has agreed to sell various stores to Aldi and Publix, who will be stalking horses in the Lucky’s Chapter 11 filing." Publix spokeswoman Maria Brous told the Tampa Bay Business Journal that it would publish the leases of five stores in Florida: Clermont, Naples, Neptune Beach, Orlando, and Ormond Beach. Full Story
Related: Lucky's Market Confirms Store Closings; Lucky's Market to Close Up to 32 Stores.
from Specialty Food News https://ift.tt/2tO7E9T
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