Stephanie Lieb Quoted in Tampa Bay Times on Winn-Dixie Bankruptcy
In an article published in the Tampa Bay Times on March 27, 2018, Stephanie Lieb provided insight on the recent Chapter 11 bankruptcy filing by Winn-Dixie’s parent company, Southeastern Grocers, which will close 94 under-performing stores including five in the Tampa Bay region.
Despite the Chapter 11 filing, the grocer plans to grow its Hispanic supermarket chain, Fresco y Más, by opening two stores in Tampa by April. “Bankruptcy doesn’t always mean the end for a lot of companies,” explained Lieb. “It can mean new beginnings. It’s an opportunity for positive outcomes, for change.”
Southeastern Grocers’ Chapter 11 filing does not come as a surprise after announcing its store closures earlier this month. The Winn-Dixie parent company secured a six-year term loan of $525 million to use as exit financing in its restructuring. However, with the rise of nontraditional grocery shopping methods like Amazon delivery and an increasingly competitive market, the success or potential downfall of Southeastern Grocers depends on how the grocer’s vendors respond to the news. “You could have a lender willing to work with you,” noted Lieb, “but it won’t matter if you can’t get supplies.”
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