Lucky's Market founders Bo and Trish Sharon plan to buy back seven specialty grocery stores, including the Fort Collins and north Boulder locations that remain open following the corporation's Chapter 11 bankruptcy filing Monday.

The 17-year-old natural foods chain announced Wednesday it had entered into an asset purchase agreement with a group led by the Sharons for seven stores in Fort Collins; Boulder; Traverse City, Michigan; Cleveland and Columbus, Ohio; Columbia, Missouri; and Melbourne, Florida.

The sale requires approval from the bankruptcy court.

“We are grateful to our wonderful team members and customers for all their support, dedication and loyalty over the years,” Bo Sharon said in a statement. “While this is a difficult situation across our company, we remain passionate and optimistic that we can continue to offer our communities access to healthful foods in this smaller footprint, preserving hundreds of jobs.”

The company announced last week it would close many of its stores. On Monday, it voluntarily filed for Chapter 11 bankruptcy protection and agreed to sell six Florida stores to ALDI and five Florida stores to Publix Super Markets.

It said it was looking for a buyer for the seven stores it planned to keep open.

At the time of the filing, the company said it had sufficient cash on hand and an agreement for the consensual use of cash collateral. As such, it said the company should have the continued ability to meet its financial obligations, including to its employees and vendors who supply the remaining stores.

The store, often referred to as a less expensive Whole Foods, was started in 2003 and expanded rapidly after Kroger Co. — King Soopers' parent company — invested in Lucky's Market in 2017.

It expanded to Fort Collins with its location at 425 S. College Ave. in March amid great expectations, bringing a 25,000-square-foot store to the edge of downtown. It was a welcome addition to the neighborhood after Safeway closed across the street in 2017.

Kroger divested its investment at the end of last year. According to bankruptcy documents, Kroger owned 55% of Lucky's.

Pat Ferrier is a senior reporter covering business, health care and growth issues in Northern Colorado. Please support her work and that of other Coloradoan journalists by subscribing: See Coloradoan.com/subscribe to learn how.