In a New York auction, Winn-Dixie sold off 102 stores to 30 different purchasers, generating a total of $45.6 million in revenue. The majority of the acquiring companies said that they intend to operate the stores as supermarkets.
Winn-Dixie is in the process of closing more than 300 units as it battles to get out of bankruptcy and return the company to viability. Winn-Dixie is also asking the bankruptcy court for permission to run store-closing sales at the 224 stores that were not sold in the auction.
Winn-Dixie is in the process of closing more than 300 units as it battles to get out of bankruptcy and return the company to viability. Winn-Dixie is also asking the bankruptcy court for permission to run store-closing sales at the 224 stores that were not sold in the auction.
- KC's View:
- We continue to believe that selling off stores only solves part of Winn-Dixie’s problem…and not the hard part. The really difficult part of the equation is creating a store format that is relevant to consumers’ needs and desires in the 21st century and beyond.
