Winn-Dixie’s parent company Southeastern Grocers plans to emerge from bankruptcy in "coming weeks," after a judge approved its reorganization plan on Monday, officials said.
Jacksonville-based Southeastern Grocers filed for Chapter 11 bankruptcy reorganization on March 27 in a Delaware courtroom.
"We are delighted with the Court’s swift approval which marks a major milestone in the transformation and correction of our business," CEO Anthony Hucker said in a prepared statement. "This confirmation paves the way for us to emerge as a strong, viable business that is well-positioned to succeed in the competitive retail market."
The company of grocery store chains — including Fresco y Más, Bi-Lo, and Harvey’s Market — has closed 94 under-preforming stores. It’s also reassessed what works locally, turning two Tampa Winn-Dixie locations into the company’s Hispanic banner and closing a total of six Tampa Bay locations.
The company said it will continue to operate 575 stores and cut its debt by about $600 million.