Lucky’s strikes a deal for its St. Petersburg store

Hitchcock’s Markets, an Alachua, Florida-based grocery store chain, has an asset purchase agreement with Lucky’s Markets for Lucky’s St. Petersburg store.

Financial terms were not disclosed in a news release announcing the agreement. The deal is subject to court approval and an overbidding process, the news release said.

The deal would represent Hitchcock’s Markets’ first presence in the Tampa-St. Petersburg area. The company, founded in 1945, has 10 stores in central and north-central Florida, with plans to open an 11th store in Citrus County, according to its website.

In addition to Hitchcock’s Market, Lucky’s said it has asset purchase agreements for six other Florida stores with Southeastern Grocers and Seabra Foods. The company earlier announced deals with Publix Super Markets (five stores) and Aldi (six stores). Lucky’s founders, Bo and Trish Sharon, have an agreement to take over six stores.

Lucky’s Market said in late January that it would close most of its stores, including the store in Tyrone Square in St. Petersburg. The company also filed for Chapter 11 bankruptcy protection. A decision by The Kroger Co. (NYSE: KR) to divest from Lucky’s led to the move.

Amid a spate of retail closings, Lucky’s was the first of two grocers in the area to file for bankruptcy. Earth Fare, a specialty natural and organic grocery store and full-service supermarket, said Monday it would close all its stores and its corporate office and liquidate its inventory. Earth Fare has three stores in the Tampa-St. Pete area, in Seminole, Oldsmar and Lutz.

Lucky’s St. Petersburg store expects to remain open until Feb. 12, according to its Facebook page.