Posted on 06/21/2005 1:28:55 PM PDT by BurbankKarl
NEW YORK (CNN/Money) - Bankrupt grocery chain Winn-Dixie said Tuesday it would close about a third of its 913 stores and cut 22,000 jobs as part of a plan to restructure and emerge from bankruptcy.
The job cuts represent about 28 percent of Winn-Dixie's total work force. The cuts will affect stores as well as corporate offices, the company said in a statement.
The Jacksonville, Fla.-based supermarket chain said it's closing or selling 326 stores to focus on its most profitable markets.
"Creating a smaller, but more profitable store base will best position Winn-Dixie for long-term financial health and a successful future," Winn-Dixie CEO Peter Lynch said in a statement.
The company would have about $7.5 billion in annual revenue after disposing of the stores, down 25 percent from its current $10 billion, it said.
Winn-Dixie also plans to sell its dairy and pizza plants in Montgomery, Ala., and a beverage plant in Fitzgerald, Ga.
(Excerpt) Read more at money.cnn.com ...
Not to mention the fact that they had Terri Schindler Schiavo's
supporter's cars towed in Pinellas Park, despite the fact that they spent plenty of money on food, water, sun screen and ice.
Hurricane Walmart
All I know is that in my area, every grocery store has closed except for Winn-Dixie because of Wal-Mart. Pretty soon, they will be selling home supplies trying to shut down Lowe's and Home Depot.
Bad decisions will catch up with one sooner or later.
Not likely. Most of the big chains are retrenching in the face of Wal Mart. Some of the specialty and high end chains are growing (HEB, Whole Foods, Fiesta, perhaps Publix) but they won't take much of the Winn Dixie demographic.
Most markets are going to be able to support at most a couple of chains in addition to Wal Mart and Target. Albertsons and Safeway are going to be hard hit, and Kroger will have to redeploy their resources.
Of course, Winn Dixie went through a downsizing and pullback before they even filed for Chapter 11.
LOL! Willie has a hangnail, it's WalMart's fault.
If'n you'd shopped at the ones we have, you'd know why they R goin down the tubes....Lousy service, attitude, selection etc etc ..... "Attitudes in an organization START at the top."
I want my house in a Walmart.
Wal-Mart is not at fault for WD failing. WD is. Their stores were small, dirty, dank, disorganized, sky high prices, employees had shit attitudes, poor selection, and an all around poor place to shop. WD did this to them selves.
One up here above Regency Park? Doesn't matter if Wal-Mart does put a superstore there, that is a higher end Harris Teeter. Lowe's Foods down the road from that is situated within a mile of a Target Superstore and the Lowes is always busy as well
We have so many super Wal-Marts in my area that it is ridiculous. I think we have six. There are only a few Winn-Dixie's left. It will not be long and they will be gone too.
In Pasadena Tx we had two Food Lions, both closed and never reopened as groceries. One is a church and the other is a clinic. Neither employ as many as before.
Even though I hate it when people generalize about a chain of stores based on their one local store, Im doing it anyway! :P
The Winn-Dixie was the closest grocery store to my university, and it was deserted most of the time. It was also a dump. They would occasionally have some pretty amazing specials on beer, which was the only time I ever shopped there.
It closed last semester.
Agreed. Winn Dixie was going down hill long before Super Wal-Marts came to town.
For obvious reasons, the distribution center in Charlotte is also being closed.
Any of the 22,000 illegals or are they saving them as "they are just doing jobs Americans won't do."
And they're dirty.
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