Southern Grocers, the parent company of major supermarket, Winn-Dixie, is claiming bankruptcy. The company announced the unfortunate news on Thursday, March 15, 2018.
In claiming bankruptcy, the company is implementing a court-supervised, pre-packaged" debt restructuring agreement.” Part of the agreement includes closing 94 stores.
Southern Grocers claims that the restructuring will assist tremendously in reducing the company’s overall debt by more than $500 million dollars. In closing 14% of their locations, they hope to see a vast improvement in reducing debt.
The following states will be affected by the restructuring: Alabama, Florida, Georgia, Louisiana, Mississippi, North Carolina and South Carolina. If the debt does not reduce as planned, more stores in the same areas will be closing.
In addition to Winn-Dixie, Southern Grocers will also be closing Harvey's and BI-LO locations. Click here to see a list of all the stores that will close as part of the debt reduction plan.