This grocery store wanted to compete with Whole Foods. Now it's bankrupt [CNNMoney.com]
Sprouts Farmers Market, Inc. (SFM)
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Source: CNNMoney.com
This grocery store wanted to compete with Whole Foods. Now it's going bankrupt New York (CNN Business) Lucky's Market, the niche grocery chain that bills itself as "organic for the 99%," filed for bankruptcy protection Monday, the latest in a string of grocery store bankruptcies . The grocer said it agreed to sell six stores to discount grocer Aldi and five to Publix. Lucky's said it will continue operating seven stores through bankruptcy. Last week, it announced plans to shutter more than 30 stores around the country. The bankruptcy is a sign of mounting pressure on small and regional grocers in an industry with wafer-thin margins. Grocery stores are trying to make costly investments to expand online, while also facing pressure from specialty and discount grocers. Founded in 2003 in Boulder, Colorado, by former chefs with farmers market-style stores and gourmet food, Lucky's attracted the interest of large grocery chains as it grew, including Kroger. In 2016, Kroger ( KR )
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News
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SFM
Earnings
- 10/30/24 - Beat
SFM
Sec Filings
- 11/12/24 - Form SC
- 11/5/24 - Form 4
- 11/5/24 - Form 4
- SFM's page on the SEC website