Ukrop’s up for sale

There have been some rumblings around town over the last couple weeks concerning the future of Ukrop’s Super Markets. Well, folks, it looks like Bobby and Jim are selling…

July 14, 2009; 2:51 PM • by Valerie Catrow

There have been some rumblings around town over the last couple weeks concerning the future of Ukrop’s Super Markets. Well, folks, it looks like Bobby and Jim are selling…

Food World (a grocery-industry publication operating out of Maryland) is reporting that Ukrop’s has put out feelers for bids on their 28 locations:

Of course, there is no guarantee that any bidder would pay the premium price that acquiring Ukrop’s would likely demand. And even if that price were met, it wouldn’t be surprising to see the deal be pulled by the Ukrop family which has a deep emotional attachment to the community and to the company itself, which was founded when Joe and Jacquelin Ukrop opened their first grocery store on Hull Street in Richmond in 1937.

While newer competition may have been able to match Ukrop’s beautiful stores and perishables-driven format, a key differential which has also adversely impacted the company is its policy of not opening on Sundays, now the busiest shopping day of the week. Ukrop’s also does not sell beer or wine at its stores. Additionally, two of Ukrop’s newer stores outside the core Richmond market – Roanoke and its second unit in Williamsburg – have struggled, with the Williamsburg unit closing last year.

We reported last month that Ukrop’s saw a dip in its market share, losing the top spot (which they had held since 1986) to Food Lion.