Lucky’s Market closing 20 locations, Cleveland and Columbus stores will survive

Lucky’s Market closing 20 locations, Cleveland and Columbus stores will survive
File photo (Source: Lucky's Market Cleveland)

CLEVELAND, Ohio (WOIO) - Lucky’s Market plans to close several stores across 10 states, but the popular locations in Cleveland and Columbus will remain open.

There has been some recent news circulating about Lucky’s stores closing. We want to assure you that your store in...

Posted by Lucky's Market Cleveland on Tuesday, January 21, 2020

The South Florida Sun-Sentinel on Tuesday reported that 20 stores would shutter by Feb. 12, leaving just one location open in the state.

Founded in 2003, the Colorado-based grocery chain had 17 stores when Kroger bought a large stake of the company in 2016.

The grocer then expanded to 39 stores, most of them in Florida, according to CBS News.

But in December Kroger said it would divest the chain and take a $238 million charge.

“The amount of investment that it would take for Lucky’s to be a meaningful contributor to Kroger overall, and the efforts that it would take, we just didn’t think it created a good return for the investments that were needed to be made,” CEO Rodney McMullen said in an earnings call early last month.

Copyright 2020 WOIO. All rights reserved.