Winn Dixie Parent to Close 94 Stores as Part of Prepackaged Restructuring
17 March, 2018, 01:32 | Author: Elaine Woods
The grocery chain, which is the parent company of Winn-Dixie and Harveys, announced the closures Thursday as part of a restructuring plan created to allow more than 500 other locations to keep their doors open. In order to reduce its debt by almost a half-billion dollars, they have made the "difficult but necessary decision" to close 94 underperforming stores, including the Winn-Dixie chain.
Southeastern Grocers' spokesperson Joe Caldwell says the company wants to keep as many employees as possible.
None of the BI-LO stores in Greer will be closed.
"We are excited to emerge with the optimal store footprint and greater financial flexibility to invest in Southeastern Grocers' growth".
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"I have to go all the way up to Norman to Winn-Dixie or Walmart", said Taylor, who noted that she plans to continue shopping at her favorite Harveys until it's no longer an option. The stores remaining are located at 6770 Veterans Parkway, 4231 Macon Road, and 3952 Highway 80 in the Ladonia Area of Phenix City.
The company expects to file under Chapter 11 of the U.S. Bankruptcy Code by the end of March, and complete the restructuring in 90 days. In Orange Park, the Winn-Dixie at 248 Blanding Blvd is closing. "Taking this step was critical to our future and the long-term health of our business", the company stated on its website. Ten stores in Alabama are being closed.
The store closures will take place in Alabama, Florida, Georgia, Louisiana, Mississippi, North Carolina and SC. They've classified the stores that will be closing as "under performing". SG says the move will reduce its debt by more than $500 million.
The store on Dale Mabry Boulevard near I-275 is on the list of "underperforming" stores that will close as part of a bankruptcy deal.
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