Wheels of Misfortune 2018 Add New Topic
- February 20, 2018 at 5:46 pm #17345smeModerator
Bloomberg reports that Winn Dixie parent Bi-Lo and Tops Friendly Market could both declare bankruptcy this month, an ominous shakeout in a grocery industry that is bracing for new competition from Amazon and its newly acquired Whole Foods Subsidiary
February 18, 2018
SMEMarch 2, 2018 at 6:45 pm #17469smeModerator
By Dahlia Ghabour – Reporter, Jacksonville Business Journal
Feb 26, 2018, 1:53pm
Brookshire Grocery is buying eight Winn-Dixie stores from Southeastern Grocers.The terms of the deal were not disclosed, but the stores are in various locations across South Louisiana.
The stores will close for a few days and reopen under BGC’s Super 1 Foods banner. BCG worked with The Food Partners, a grocery industry investment banking firm, as a strategic and financial advisor for the acquisition.
“These stores are a strong fit for our Super 1 Foods banner, and we look forward to welcoming new customers and employees in Acadiana,” said Brad Brookshire, Chairman of the Board and Chief Executive Officer for BGC in a release. “We’re a family business celebrating our 90th anniversary this year, and we look forward to many more years here.”
Super 1 Foods has 37 stores across Louisiana, Texas and Arkansas.
Trey Edwards, Winn-Dixie’s regional vice president for ALabama, Louisiana and Mississippi, said that it seemed to be a good match and that employees would have the opportunity to re-interview for ongoing positions.
For Southeastern Grocers, the transfer of stores comes among a storm of speculation that the company could close or declare bankruptcy as soon as March. SEG, which also operates Harveys, Bi-Lo and Fresco y Mas stores, has more than a billion dollars in debt coming due in 2018 and 2019.
In addition to the BGC stores, Baton Rouge-based grocery chain Shoppers Value is also purchasing seven Winn-Dixie stores, including three in Mississippi. Shoppers Value plans to take over the locations in March and flip them to reopen by September, maintaining the same staff.
Shoppers Value taking over former Winn-Dixie locations is nothing new: when the company operated as Piggly Wiggly stores, it took over three old Winn Dixies in Baton Rouge, followed by two more in 2017.
“We are always open to considering opportunities that can increase our ability to provide customers with an improved shopping experience,” said SEG spokesman Joe Caldwell in a statement. “We were approached by Shoppers Value and Brookshire Grocery Co., and after much consideration, we reached an agreement to transition the 15 stores to these retailers. We know Shoppers Value and Brookshire’s very well and are confident that the 15 stores being transferred, with the support of their new owners, will see continued success.”
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