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Can local natural/organic grocers still compete? – BizWest

BOULDER Boulder County was eating natural and organic before it became cool.
The region has been a cradle for the industry for decades, first with long-time community chains like Alfalfa’s Market Inc. and later with home-grown national upstarts like Lucky’s Market.
But in early 2020, Lucky’s Market went from a rapidly-expanding name with 39 stores across the country to hurtling down to Earth after filing for bankruptcy and selling off locations back to original owners or to other chains.
Just more than a year later, Alfalfa’s shuttered its almost 40-year old store in Boulder and its Longmont location after that was open for just under six months, followed by its final location in Louisville. BizWest has also reported that the store was saddled with millions of dollars worth of debts to its vendors as those stores were closed and was ordered by a judge in late March to pay more than $1.4 million left on a defaulted credit line with co-founder Mark Retzloff. ....

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Alfalfa's Market to shutter Louisville store, marking end to almost 40 years in business – BizWest

This story has been updated.
LOUISVILLE Alfalfa’s Market Inc. will close its lone store in Louisville this week, marking the end of one of the original natural-foods grocers in the Boulder area and a swift collapse of the brand in recent weeks.
In a post on Facebook, the market said it will hold a final inventory sale at the store at 785 E. South Boulder Road on Thursday before closing for good. It blamed the pandemic as the main driver of its woes.
In a further statement to BizWest, the company said it was optimistic it could turn itself around after a new ownership group took over in 2018. ....

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Judge orders Alfalfa's Market, founder to pay $1.4M on defaulted credit line – BizWest

DENVER A judge has ordered Alfalfa’s Market Inc. and founder Mark Retzloff to pay just more than $1.4 million to fulfill a loan taken out to cover the cost of opening the grocery’s Louisville store, the last location that the struggling market has open.
The debtors list includes Alfalfa’s Market Inc. and three other affiliated holding companies, along with Retzloff personally, according to filings with the Boulder County Clerk’s Office. It does not specify any amount that each party is liable to pay but said the debt is set to accrue interest at 8% annually.
The creditor is listed as Landmark Financial Corp., a Greenwood Village-based company that specializes in lending for commercial equipment leasing and financing. ....

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Judge orders Alfalfa's Market, founder to pay $1.4M on defaulted credit line

Judge orders Alfalfa’s Market, founder to pay $1.4M on defaulted credit line
The sole remaining Alfalfa’s Market in Louisville. Christopher Wood/BizWest Media.
A judge has ordered Alfalfa’s Market Inc. and founder Mark Retzloff to pay just more than $1.4 million to fulfill a loan taken out to cover the cost of opening the grocery’s Louisville store, the last location that the struggling market has open.
The debtors list includes Alfalfa’s Market Inc. and three other affiliated holding companies, along with Retzloff personally, according to filings with the Boulder County Clerk’s Office. It does not specify any amount that each party is liable to pay but said the debt is set to accrue interest at 8% annually. ....

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As it shuttered stores, Alfalfa's Market past due with vendors by millions of dollars – BizWest

BOULDER Just days before it announced the closure of its Longmont store, Alfalfa’s Market Inc. was behind on payments to the tune of millions of dollars on merchandise from vendors, which could hamper its attempts to turn around its fortunes after shuttering two of its three stores.
Internal documents obtained exclusively by BizWest showed that the longtime natural-foods grocer was past due in paying hundreds of its vendors and potentially putting those businesses at risk of carrying bad debt or losing cash flow that’s critical for staying in business.
According to a list of companies that provide goods and services to the Market, as of mid-March, Alfalfa’s owed more than $4.18 million to 273 vendors. Almost half of that amount was more than 90 days past due. ....

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