Southeastern Grocers to file for bankruptcy, shutter 94 stores
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.
“We conducted a thorough review of our strategic options and determined that this financial restructuring is in the best interests of our associates, customers, supplier partners and the communities in which we serve,” stated Anthony Hucker, president and CEO, Southeastern Grocers, which operates stores in Alabama, Florida, Georgia, Louisiana, Mississippi, North Carolina and South Carolina under the Winn-Dixie, Bi-Lo, Harveys Supermarket and Fresco y Más banners.
Under the terms of the agreement, Southeastern will close 94 stores. The company will continue to operate 582 stores throughout its footprint.
Southeastern said the restructuring will decrease its overall debt levels by over $500 million, which will result in reduced interest expense, allowing the grocer to invest more cash in its the business in the form of increased capital expenditures for store remodels and new stores.
“The agreement we announced today is an important step in Southeastern Grocers’ transformation to put our company in the best position to succeed in the extremely competitive retail market in which we do business,” stated Hucker. “With a foundation built on iconic, heritage banners, and with the strong support of our leadership team, we will work through this process as quickly and efficiently as possible.”
Here’s a list of the stores that have been slated for closing:
ALABAMA (All Winn-Dixie) Anniston, 1706 E. Greenville St. Birmingham, 2220 Bessemer Road Daphne, 3075 Us Hwy 98 Dothan, 3850 W. Main Street Dothan, 2131 Ross Clark Circle Gulf Shores, Hwy 59 and 16th Avenue Mobile, 2502 Schillinger Rd S Monroeville, 1134 South Alabama Ave. Montgomery, 3881 Atlanta Highway Robertsdale, 21951 D Hwy 59
FLORIDA (Winn-Dixie stores unless otherwise noted) Apollo Beach, 6180 Us Highway 41 N Bonita Springs, 10026 Coconut Rd. Bradenton, 3500 53rd Ave. West Cooper City, 2581 North Hiatus Road Deland, 2701 S. Woodland Blvd. Fort Myers, 18731 Three Oaks Parkway Fort Myers, 8650 Gladiolus Drive Gainesville, 2002 SW 34th St Jacksonville, 3000 Dunn Avenue (Harveys) Jacksonville, 1012 Edgewood Ave. N (Harveys) Jacksonville, 9866 Baymeadows Road Jupiter, 6707 West Indiantown Road Jupiter, 3757 Military Trail Kissimmee, 1347 E Vine St Land O’ Lakes, 2126 Collier Parkway Miramar, 6301 County Line Rd. Ocala, 4417 Nw Blitchton Road Ocala, 8445 Sw Hwy 200, Ste #131 Orange Park, 248 Blanding Blvd. Orlando, 2722 N. Pine Hills Rd (Harveys) Orlando, 4686 E Michigan Street Plantation, 7139 W Broward Blvd Pompano Beach, 277 S Pompano Parkway Saint Petersburg, 7625 Blind Pass Road Sarasota, 3301 17th Street Sarasota, 1325 S. Tamimi Trail Sarasota, 2881 Clark Road Stuart, 2160 S. Federal Highway Tallahassee, 3813-10 N. Monroe Street Tallahassee, 1525 West Tharpe Street Tamarac, 7015 N. University Drive Tampa, 2525 E. Hillsboro Avenue (Harveys) Tampa, 2525 N. Dale Mabry Tampa, 4317 Gandy Blvd West Palm Beach, 2675 S. Military Trail (Fresco)
GEORGIA (Harveys unless otherwise noted) Adel, 400 West 4th St. Cairo, 1000 First Ave. Ne Camilla, 68 North Scott Street Cochran, 140 West Dykes St. Columbus, 5750 Milgen Road (Winn-Dixie) Dawson, 279 S. Main St. Dublin, 1945 Veterans Blvd Fort Valley, 202 Vineville St. Leesburg, 1553 Us 19 South Macon, 1605 Shurling Dr. Montezuma, 506F Spaulding Rd. Moultrie, 1209 1St Ave. Southeast Ocilla, 415 North Irwin Ave. Savannah, 2142 E. Victory Drive (Bi-Lo) Sylvester, Ga Hwy 112 & Azalea Trail Thomasville, 306 Smith Ave. Valdosta, 4036 Bemiss Rd. (Winn-Dixie) Valdosta, 1105 Madison Highway (Winn-Dixie) Waycross, 510 Tebeau St.
LOUSIANA Winn-Dixie Mandeville, 619 N. Causeway Blvd.
MISSISSIPPI Winn-Dixie Biloxi, 2384 Pass Rd. North Carolina (Bi-Lo stores unless otherwise noted) Black Mountain, 205 NC Highway 9 Charlotte, 6320 Albemarle Road (Harveys) Charlotte, 4430 The Plaza (Harveys) Concord, 595 U.S.. 601 Bypass South Gastonia, 2204 Union Rd Gastonia, 1955 Davis Park Road Lincolnton, 427 North Generals Blvd. Morganton, 1555 E. Union Street Pineville, 9101 Matthews-Pineville
SOUTH CAROLINA (Bi-Lo stores unless otherwise noted) Anderson, 1706 E. Greenville St. Bamberg, 3386 Railroad Ave Barnwell, 10560 Dunbarton Blvd Clemson, 501 Old Greenville Hwy Columbia, 3315-B Broad River Rd. (Harveys) Columbia, 2230 Decker Blvd. (Harveys) Columbia, 3900-B. N. Main Street (Harveys) Greenville, 1818 Woodruff Rd. Greenwood, 714 Bypass 25 Ne (Harveys) Ladson, 9616 Hwy 78 Mount Pleasant, 774 South Shelmore Blvd Mullins, 208 E. Mcintyre St. Newberry, 1937 Wilson Road (Harveys) North Charleston, 4391 Dorchester Rd Seneca, 115 Rochester Hwy. Spartanburg, 140 Fernwood Dr. St Matthews, 615 Harry C Raysor Dr S Summerville, 1452 Boone Hill Road Warrenville, 2587 Jefferson Davis Hwy