JACKSONVILLE, Florida — Southeastern Grocers announced Thursday, March 15 that it will be closing 94 stores in seven states, including three Winn Dixie stores in Baldwin County and one in …
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JACKSONVILLE, Florida — Southeastern Grocers announced Thursday, March 15 that it will be closing 94 stores in seven states, including three Winn Dixie stores in Baldwin County and one in Mobile.
The closing is part of a restructuring support agreement announced Thursday with a group of creditors collectively holding 80 percent of its 8.625/9.375 percent Senior PIK Toggle Notes due September 2018 and its private equity sponsor regarding the terms of a comprehensive financial restructuring that will position the company for long-term financial health.
SEG will continue operating throughout this process, and the company’s associates remain focused on exceeding the needs of customers and consistently delivering great service, quality and value in SEG’s 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,” said Anthony Hucker, president and chief executive officer of SEG. “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. We are excited to emerge with the optimal store footprint and greater financial flexibility to invest in Southeastern Grocers’ growth.”
Based in Jacksonville, Florida, Southeastern Grocers LLC, the parent company and home of BI-LO, Fresco y Más, Harveys Supermarket and Winn-Dixie grocery stores, is one of the largest conventional supermarket companies in the U.S. SEG grocery stores, liquor stores and in-store pharmacies serve communities throughout the seven southeastern states of Alabama, Florida, Georgia, Louisiana, Mississippi, North Carolina and South Carolina.