Florida-based Southeastern Grocers- the parent company of Winn-Dixie, Harveys, and other businesses- said Thursday it's closing 94 stores as part of a Chapter 11 bankruptcy filing.
Southeastern Grocers said Thursday they reached an agreement with “key economic stakeholders” which lets them restructure financially. They’ve classified the stores that will be closing as “under performing”.
582 stores will continue to operate under the Southeastern Grocers umbrella.
“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,” company president and CEO Anthony Hucker said in a statement.
Southeastern Grocers, the company that owns Winn-Dixie, says that it plans to file for bankruptcy and close 94 stores https://t.co/s76Yryc1OM pic.twitter.com/qH4aI5vSjF— CNN Breaking News (@cnnbrk) March 15, 2018
The restructuring is expected to reduce the company's debt by more than $500 million.
Three locations in Jacksonville and one in Orange Park, Florida will be part of the first group of closings, the company said.
According to Winn-Dixie's website, the retailer has locations in Florida, Georgia, Alabama, Louisiana, North Carolina, South Carolina and Mississippi.
Traditional grocery stores have faced increased competition from online retailers like Amazon in recent years.
Click here to find the list of all affected stores.
National Content Desk Editor Joy Johnston contributed to this report
About the Author