Friday, March 16, 2018

Supermarket chain to file for bankruptcy; closing 94 stores

Chain Store Age

In a move that was not unexpected, the parent company of such grocery banners as Winn-Dixie and Bi-Lo said it is preparing to file for bankruptcy protection.

Southeastern Grocers said it has entered into a restructuring support agreement with a group of creditors and its private equity sponsor regarding a comprehensive financial restructuring that will position the company for long-term financial health. Under the court-supervised, prepackaged restructuring agreement, Southeastern will file for bankruptcy protection by the end of March.. . . more