Lucky’s granted approval of procedures for sales of 11 Florida stores

By Caroline Salls

Pittsburgh, Feb. 27 – Lucky’s Market Parent Co., LLC received court approval for the bid procedures for the proposed sale of 11 of its stores located in Florida, according to orders filed Wednesday with the U.S. Bankruptcy Court for the District of Delaware.

Publix Super Markets, Inc. has agreed to serve as the stalking horse bidder for five of the stores, with an $11.5 million bid, and Aldi Inc. has submitted a $7.8 million stalking horse bid for the other six Florida stores.

If Publix is not the winning bidder for the stores it has agreed to buy, Lucky’s will pay it a $344,500 break-up fee and reimburse up to $250,000 of its sale-related expenses. Meanwhile, if Aldi is not the winning bidder for its stores, it will receive a $250,000 topping fee and an up to $250,000 expense reimbursement.

The minimum overbid amount for both groups of stores is $250,000.

Competing bids for both groups of stores are due by 4 p.m. ET on March 23. An auction will be held on March 26, if necessary, and the sale hearing is scheduled for March 30.

Lucky’s is a Niwot, Colo.-based supermarket operator. The company filed bankruptcy on Jan. 27 under Chapter 11 case number 20-10166.

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