WASHINGTON (dpa-AFX) - Southeastern Grocers, the company that owns Winn-Dixie Harveys and BI-LO grocery chains, announced its plans to file for bankruptcy and close 94 stores.
The company will close 94 Winn-Dixie, Harveys, and BI-LO locations in the Southeast. The company said it has 'chosen to voluntarily implement a court-supervised, prepackaged restructuring agreement.'
'We have not taken these steps without careful planning and consideration. As part of this restructuring, we have made the difficult but necessary decision to close 94 underperforming stores. It is our goal to work through our financial restructuring as quickly and efficiently as possible, and we will emerge from this process likely within the next 90 days,' the company said in a statement.
The company said it will continue to operate 582 stores.
'This course of action enables us to continue writing the story for our company and our iconic, heritage banners in the Southeast,' Anthony Hucker, President and Chief Executive Officer.
Copyright RTT News/dpa-AFX