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Retail Grocers Bid $29 Million for 24 Lucky’s Market Stores

March 30, 2020, 8:15 PM

Bankrupt organic grocery chain Lucky’s Market is working to smooth out the details on $29 million worth of deals that brought in $4.5 million more than expected after getting tentative approval from a bankruptcy judge.

Retail grocers drove up prices at multiple online auctions last week for 24 Lucky’s Market stores, including seven operating locations. Initial bids offered in January had amounted to $24.2 million.

Judge John T. Dorsey of the U.S. Bankruptcy Court for the District of Delaware gave a tentative nod to the sales at a telephonic hearing Monday, pending final resolution of various objections from landlords, creditors, ...