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Winn-Dixie out of Bankruptcy

Don't count Winn-Dixie Stores Inc. out just yet. The embattled grocer, which has closed hundreds of stores in recent years, emerged from bankruptcy in late November.

In conjunction with its emergence from Chapter 11, Winn-Dixie closed on a new $725 million exit financing facility provided by a consortium led by Wachovia Bank. The company will use the facility to renovate its existing store base and develop new supermarkets in the Southeast. The chain first entered bankruptcy protection in February 2005, and many left the chain for dead after it suffered from competition in its core markets from Wal-Mart and Target and national chains.

TAGS: News Retail
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