Lucky’s Market sets procedures for $3.3 million Florida property sale

By Caroline Salls

Pittsburgh, June 24 – Lucky’s Market requested court approval of the bid procedures for the proposed sale of assets related to its improved real property located in Panama City, Fla., according to a motion filed Tuesday with the U.S. Bankruptcy Court for the District of Delaware.

M.B.D. Properties, LLC is the stalking horse bidder, with a $3.3 million purchase offer. If M.B.D. is not the winning bidder, Lucky’s will reimburse up to $25,000 of its sale-related expenses.

The initial overbid amount and minimum overbid amount at auction will each be $100,000.

Competing bids are due by 4 p.m. ET on Aug. 10.

An auction will be held on Aug. 12, if necessary.

The company is requesting an Aug. 17 sale hearing.

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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