Boulder-based natural foods grocery chain Lucky’s Market is losing a major investor.

Kroger, the parent company of King Soopers, announced in a Securities and Exchange Commission filing last week it was divesting from Lucky’s.

The move ends a partnership struck in 2016, when Kroger backed the independent grocer Lucky’s, which had 17 stores at the time, including its original location in north Boulder and second location in Longmont. Lucky’s has since expanded to 39 locations in 10 states.

“This is a process that will take time as we work with the current ownership group to determine best steps for moving forward,” Lucky’s spokesperson Krista Torvik said in a statement. “In the meantime, we are as committed as ever to bringing more healthful foods to more people in the communities we serve. We remain committed to that mission on behalf of our team members, customers and supplier partners, and look forward to continuing to serve all of our stakeholders into the future.”

Kroger in its financial report to the SEC said the decision was a result of a “portfolio review.”

“… Kroger has decided to divest its interest in Lucky’s Market and recognized a non-cash impairment charge of $238 million in the third quarter and the portion of this charge attributable to Kroger is $131 million,” the filing stated. “… The pre-tax adjustment for impairment of Lucky’s Market was $238 million including a $107 million net loss attributable to the minority interest of Lucky’s Market.”

According to Investopedia.com, a non-cash charge is a write-down or accounting expense that does not involve a cash payment. “… Asset impairments are common non-cash charges that reduce earnings but not cash flows,” the investment website states.

Biz West reported Kroger Chairman W. Rodney McMullen said on an earnings call the grocery giant felt it would take too much investment for Lucky’s to be “meaningful contributor” to Kroger.