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Started By
Message
50,000 jobs in Southeast at risk as Southeastern Grocers discuss bankruptcy
Posted on 11/22/17 at 12:15 am
Posted on 11/22/17 at 12:15 am
There are thousands of Winn-Dixie employees in Louisiana concerned about the outcome.
Bloomberg article:
Winn-Dixie parent company considering bankruptcy
Jacksonville Business Journal:
Southeastern Grocers will not be around in 5 years
Bloomberg article:
quote:
By some accounts, Bi-Lo is close to default, putting in jeopardy about $1 billion of debt and 50,000 jobs at Winn-Dixie, Harveys, Fresco y Mas and its namesake stores. But Lone Star has already come out ahead, even after committing more capital. The firm has paid itself at least $800 million since 2012, regulatory filings show, and collected still more in management fees.
Winn-Dixie parent company considering bankruptcy
Jacksonville Business Journal:
quote:
Southeastern Grocers' bill is coming due, and the Jacksonville-based company’s struggle to refinance $1 billion in debt could result in a Chapter 11 bankruptcy restructuring, according to industry analysts. Southeastern Grocers, parent company of Bi-Lo, Harveys, Winn-Dixie and Fresco Y Mas, has reportedly hired Evercore, an investment bank, to advise it as the grocer restructures its debt
Southeastern Grocers will not be around in 5 years
19
Posted on 11/22/17 at 12:17 am to OKellsBells
Oooooonoooooooooooooooooo
Posted on 11/22/17 at 12:20 am to OKellsBells
There’s going to be a lot of white collar jobs that aren’t around in 5 years as well.
Posted on 11/22/17 at 12:24 am to OKellsBells
Eh, grocery demand is pretty stable, and those assets can be easily spun off if need be. It's a very low margin business.
This might be one of the few times that the little guy will, generally, come out OK and the managers will, generally, be shite out of luck.
This might be one of the few times that the little guy will, generally, come out OK and the managers will, generally, be shite out of luck.
Posted on 11/22/17 at 12:28 am to OKellsBells
The Winn Dixie by me sucks. Its on par with the Walmart Supercenter with the level of ghetto trashiness and lack of registers open at a time. Hopefully the WD closes down and a Rouse’s opens in its place
Posted on 11/22/17 at 12:28 am to OKellsBells
quote:
Southeastern Grocers, parent company of Bi-Lo, Harveys, Winn-Dixie and Fresco Y Mas, has reportedly hired Evercore, an investment bank, to advise it as the grocer restructures its debt.
Guess Bi-Lo better Sel-Hi.
Posted on 11/22/17 at 12:30 am to OKellsBells
I was here about 15 years ago when the Davis family filed for bankruptcy and Winn Dixie ended up screwing alot of long time employees and retirees. They came out pretty good from it last time but they just can't compete out here with Publix and the cheap prices at Walmart. I guess now with places like trader Joe's and whole foods Winn Dixie may not bounce back this time.
Posted on 11/22/17 at 12:53 am to athenslife101
Now that more big grocers are beginning to offer online shopping and convenient local pickup, their competitors or small independents without the technology to do so will struggle.
Amazon’s acquisition of Whole Foods adds pressure in the race to adapt.
Nope. There are lots of reasons why a large percentage of the little guys will lose their jobs over time as online grocery shopping expands and the profitability of multiple huge grocery stores within a city continues to shrink.
This could be an opportunity for Publix to move into Louisiana. Publix grocery delivery
Amazon’s acquisition of Whole Foods adds pressure in the race to adapt.
quote:
This might be one of the few times that the little guy will, generally, come out OK
Nope. There are lots of reasons why a large percentage of the little guys will lose their jobs over time as online grocery shopping expands and the profitability of multiple huge grocery stores within a city continues to shrink.
This could be an opportunity for Publix to move into Louisiana. Publix grocery delivery
Posted on 11/22/17 at 1:45 am to shutterspeed
quote:
Guess Bi-Lo better Sel-Hi.
I bet you are a ton of pun at parties.
SEG owns Bi-Lo and their debt is 6 times EBITDA. Sell me what that means.
Posted on 11/22/17 at 4:31 am to OKellsBells
Publix is so trashy.
Posted on 11/22/17 at 5:01 am to OKellsBells
quote:
their debt is 6 times EBITDA. Sell me what that means.
Well, that’s no good.
Posted on 11/22/17 at 5:12 am to OKellsBells
I shop at a Winn Dixie an 1/8 of a mile away.
Hope it doesn't close.
There's a Publix that's convenient also.
It's pain to go to the Walmart here for anything.I'm not going there for groceries.
Hope it doesn't close.
There's a Publix that's convenient also.
It's pain to go to the Walmart here for anything.I'm not going there for groceries.
This post was edited on 11/22/17 at 5:55 am
Posted on 11/22/17 at 5:28 am to jlovel7
Publix is one of the nicest standard grocery stores that exist.
Posted on 11/22/17 at 5:42 am to OKellsBells
Be nice if Publix would set in and buy them.
Posted on 11/22/17 at 5:59 am to OKellsBells
They closed all their stores in Alabama a few years ago. Part of it is they have a case of the dumb...I worked at a Winn Dixie for a couple of months while I was between jobs and made $18.00/hour doing nothing but working in the deli. by overpaying employees they priced themselves out of the market
I do miss Winn Dixie as a grocery store, though. They had the best seafood department around.
I do miss Winn Dixie as a grocery store, though. They had the best seafood department around.
Posted on 11/22/17 at 6:22 am to DannyB
Winn Dixie was my first job.
They will always have a soft spot in my heart but they have not done a good job changing with the times.
They will always have a soft spot in my heart but they have not done a good job changing with the times.
Posted on 11/22/17 at 6:32 am to Tiger Prawn
quote:
Hopefully the WD closes down and a Rouse’s opens in its place
WinDixie sucks but Rouses is the devil
Posted on 11/22/17 at 6:41 am to DannyB
quote:
They closed all their stores in Alabama a few years ago.
There are two fairly nice Winn Dixie stores within three miles of me in Mobile.
Posted on 11/22/17 at 7:20 am to OKellsBells
yet rouse's is expanding ? yay !
Posted on 11/22/17 at 7:30 am to sloopy
quote:
Be nice if Publix would set in and buy them.
There are some areas where they would have antitrust issues (Florida, mainly, though they could buy a few stores in better locations).
But in others that could happen.
I wish Publix would have bought Tom Thumb here in DFW when Safeway bought them instead.
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