Winn-Dixie agrees to sell 102 of its stores
Jul 20, 2005 10:00 AM, from staff and wire reports
After a successful auction July 18, Winn-Dixie Stores Inc has reached agreement to sell 102 stores to 30 purchasers, most of which intend to operate these locations as food and beverage stores. These stores are part of the 326 sites the Jacksonville FL-based supermarket chain intends to sell or close in conjunction with its new "store footprint" strategy.
Winn-Dixie reported June 21 that it was taking action to focus on its strongest markets and reduce the size of its store base in the United States and Bahamas from 913 stores to 587.
Earlier in July, Winn-Dixie announced that it had reached preliminary agreement to sell 79 stores to 20 potential buyers, all of which intend to operate the stores on an ongoing basis. The additional stores and buyers are the result of the July 18 auction in New York.
The aggregate purchase price in the agreements for leases and equipment at the 102 stores is about $45.6 million, an increase of $6.9 million from the $38.7 million announced previously. This amount does not include inventory to be purchased. Winn-Dixie will seek final Bankruptcy Court approval of these sale agreements at a hearing scheduled for July 27-29.
© 2013 Penton Media Inc.