Winn-Dixie plans to sell or close 35 stores
Mar 1, 2006 12:00 PM
Winn-Dixie Stores Inc, in anticipation of its expected emergence from Chapter 11 reorganization in summer 2006, has completed a review of its portfolio and decided to sell or close 35 stores.
The closings are intended to enhance Winn-Dixie's financial performance and help position it for profitability. The Jacksonville FL-based supermarket chain, together with outside advisors, is working to identify potential buyers for these stores. Stores that cannot be sold will be closed.
Winn-Dixie now operates 585 stores in Florida, Alabama, Louisiana, Georgia, Mississippi, and the Bahamas.
Peter Lynch, president and chief executive officer, said, “We believe the 550 stores in our continuing footprint will provide us with the most solid possible foundation on which to build a more profitable future for Winn-Dixie. At this time, we do not expect any other store closings as part of our Chapter 11 reorganization process.”
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