Winn Dixie, 10 Years after Filing for Bankruptcy
Posted on Tuesday, July 26th, 2016 at 5:15 pm
The popular grocery store Winn-Dixie filed for Chapter 11 bankruptcy a little over 10 years ago. Despite its roots that trace back to 1925, the grocery store chain was forced to close over 350 locations back in 2005. Even the beloved children’s novel, Because of Winn Dixie, couldn’t save the store from the recession.
However, a lot has changed for the company since its financial decline in the early 2000’s. Winn-Dixie has since seen a huge increase in its profits, which pushed $10 billion in 2014. The chain began to modernize their stores and create new marketing strategies.
The Winn-Dixie brand was family-owned-and-operated until the food retailer was sold for $530 million to BI-LO holdings, the owners of Sweetbay Supermarkets. By 2013, all remaining Sweetbay Supermarkets were renamed Winn-Dixie. The Winn-Dixie name is now associated with over 500 locations.
Not all bankruptcies end in failure. If your business is considering filing for bankruptcy, you should find strong and knowledgeable legal support. The business bankruptcy lawyers at the Bradford Law Offices, PLLC have helped many businesses and individuals get through the complicated bankruptcy procedure and emerge successfully. Call our offices at (910) 668-0006 to hear more about what we can do for you!