Winn-Dixie parent reaches prepackaged bankruptcy deal, will close 94 stores

17 March, 2018, 01:09 | Author: Terri Saunders
  • Winn-Dixie in Biloxi is closing along with 93 other stores in the region | The Sun Herald

The southern chain has been around for nearly 100 years, but after Thursday afternoon's announcement, 94 stores will close, majority in Florida.

There are about 20 Winn Dixie locations in the Jacksonville area and at least 2 Winn Dixie stores are expected to close.

The two Winn-Dixie stores in Collier County, on Golden Gate Parkway, and at Vanderbilt Beach Road and Collier Boulevard, will remain open.

"Southeastern Grocers has conducted a thorough review of options for reducing our current debt", it said in a statement. In addition to Winn-Dixie, the company also owns BI-LO, Harvey's Supermarket, and Fresco y Mas.

The company plans to file for bankruptcy by the end of March, implementing a court-supervised debt restructuring agreement.

Under the agreement, Southeastern Grocers will voluntarily enter a pre-packaged Chapter 11 bankruptcy plan.

Syracuse outlasts Arizona State 60-56 to advance in the NCAA Tournament
Syracuse (21-13) had to sweat out Selection Sunday and wound up as the last one to make the bracket, relegated to the First Four . The 6-foot-6 sophomore guard has the skillset of an National Basketball Association player and the athleticism to match.

The bulk of the closings are happening in Florida and Georgia, with many more in Alabama, South Carolina, and North Carolina.

Bloomberg reported last month that the grocery chain may file for bankruptcy and close 200 stores.

"We will continue to thrive with 582 successful stores in operation and will continue to deliver a store experience our associates, customers and communities can count on".

For frequent shoppers like Rhonda Paul, her quick grocery runs to the Winn-Dixie by her house won't be happening for much longer. On Jan. 4, the Kmart store was identified as one of 64 in the national chain closing in the first part of 2018.

SEG officials said the company has secured exit financing in the form of a six-year term loan of $525 million along with an asset-based revolving credit facility.

"It's going to be devastating for them to have to change their whole life around in 90 days, it's going to be devastating", said Rahmings.



Facebook is spreading bitterness and hate in Myanmar, says UN
In Shan and Kachin states, civilian casualties continue to be reported as a result of attacks by the security forces". More than 671,000 Rohingya Muslims have fled the country following a military crackdown against them in August.

Araria will turn terror hub: Giriraj Singh
From Bhabhua, deceased MLA Anand Pandey's wife Rinki Pandey defeated Congress candidate Shambu Patel by 15,490 votes. Before the by-polls, Alam was a JD (U) MLA and joined his father's party just a month ahead of the by-polls.

'Battlefront II' will finally make in-game progression fair next week
Players will gain skill points when leveling up, which they can then use to unlock or upgrade Star Cards they desire. Anything you've already bought or earned will stay in your possession regardless of how you came about it, as well.

Kejriwal apology: Two top AAP leaders in Punjab resign
So far in the inner-party tussle, the Punjab unit had given support to Kejriwal and losing them would be a huge blow to him. Leaders from ruling Congress also slammed AAP . "The party will definitely speak to our dissident leaders", he added.

Final trailer for Avengers
In the trailer , it's clear that big bad Thanos ( Josh Brolin ) is close to getting all the Infinity Stones. The film is set to hit the screens on April 27, 2018 , worldwide a week ahead of its May 4, 2018, release.

Jets finalizing deal with Teddy Bridgewater
Crowell is joining the Jets on a three-year contract, adding depth to their backfield following the retirement of Matt Forte. The former 2014 first-rounder completed 64.7 percent of his passes and threw for 6,150 yards during his tenure in Minnesota.

Trump decides to oust national security advisor
McMaster and find a new national security adviser before the North Korea meetings in May, multiple sources told CNN Thursday. McMaster, whose ouster has been rumored for months, will leave once he has figured out his next move. .

Loyola-Chicago upsets six seed Miami
Ingram found himself in the right place and the right time, nailing a contested three-point "prayer". " One Shining Moment .... The Loyola Ramblers scored the first big upset of the 2018 NCAA Division I men's basketball tournament Thursday against Miami.

Britain accuses Russian Federation of violating UN Charter, Chemical Weapons Convention
The U.S. called on the UN Wednesday to hold Russia accountable for the chemical poisonings of two individuals, including a former Russian spy, on British soil.

Atrium Health to lift visitor restrictions due to flu
DPH says the percent of hospital patients due to pneumonia attributed to the flu has decreased to 3.4%. ยท Get vaccinated. The number of deaths is based on reports submitted by providers to the North Carolina Division of Public Health.