Grocery chain Winn-Dixie Stores posted a net loss of US$1.98m for the four weeks ending 14 December 2005 – after making a US$39.88m profit during the previous month, reported Dow Jones.
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The losses are a setback for Winn-Dixie Stores, which filed for Chapter 11 bankruptcy protection in February 2005, before profits began to pick up again.
The company’s profit benefited from US$65m in reorganisation gains that came from selling its stores, according to Dow Jones. The grocery store chain has sold or closed 326 stores in an effort to focus sales in geographic locations where its market position is strongest.
After the loss period, in mid-December Winn-Dixie Stores reportedly had cash and cash equivalents of US$54.66m.
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