Selma Winn-Dixie not closing
By Adam Dodson | The Selma Times-Journal
The Winn-Dixie located in Selma will not see a fate resembling dozens of other stores that are forced to close their doors due to the financial instability of its parent company, Southeastern Grocers.
Earlier this week, it was announced that 94 “underperforming” Winn-Dixie locations throughout Alabama, Florida, Georgia, South Carolina, North Carolina, Mississippi and Louisiana would close. The list includes one other store from the area, a location in Montgomery.
According to news releases from Southeastern Grocers following their filing of Chapter 11 bankruptcy, the company is being forced to undergo a financial restructuring support agreement with the assistance of key stakeholders. The company has secured 100 percent committed exit financing, which will take place over a six-year term loan totaling $525 million.
“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,” president and CEO Anthony Hucker said in a press release.
Southeastern Grocers is also the parent company of Bi-LO LLC, which has filed for bankruptcy in 2005 and 2009, and is reportedly still struggling to stay financially sound.
However, the Selma Winn-Dixie has no plans to shut down due to underperformance like so many of its sister locations. In fact, the Selma location is actually receiving store-wide renovations and remodeling.
When the news of the Winn-Dixie stores closing broke, local frequenters of the store expressed their concern on social media. When it was learned the store was staying open, people did not hesitate to express their happiness on Facebook.
According to local store director Larry Crane, the numerous upgrades should be coming relatively soon.
“It is supposed to happen by the end of the month, but we will have to wait and see. The color scheme will be changing to the new one as well,” Crane said.
Crane also remarked that he believes the renovations and remodeling will be good for their business. The exact date and detail for other renovations is not known.
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