CLEVELAND — Social media has been abuzz on Tuesday wondering about the future of Lucky's Market in Cleveland, following a report from the South Florida Sun Sentinel that the chain will be closing stores across the country within weeks.
The Sun Sentinel confirmed that Lucky's will close 20 of its 21 stores in Florida by February 12. Plans to open 14 other stores across the state have been cancelled.
Progressivegrocer.com adds that Lucky's is planning to close “as many as 32 of its 39 stores."
So where does that leave Lucky's Market at the Cleveland-Lakewood border which opened two years ago at the corner of Clifton Blvd. and W. 117th Street?
A Facebook post from the market on Tuesday evening seems to calm fears of a closing. "There has been some recent news circulating about Lucky's stores closing. We want to assure you that your store in Cleveland will remain open and we look forward to serving you, our loyal customers. Please come in soon to visit us."
The decision by Lucky's to close dozens of stores comes after Kroger announced in December that it planned to divest its stake in the chain. Lucky’s had 17 stores when it announced the Kroger investment in April 2016.
“Unfortunately, Lucky’s expanded very fast after Kroger became involved,” said Neil Z. Stern, senior partner at Chicago-based retail consulting firm McMillanDoolittle told the Sun Sentinel. “They became spread too thin, took some questionable real estate and ultimately they had a huge number of underperforming stores that were not sustainable. Still, this is a huge retrenchment.”
