US retailer Winn-Dixie has sold 21 stores through auction in efforts to emerge from bankruptcy – raising US$15m.
The aggregate purchase price includes leases and equipment and does not include inventory, which was sold previously in clearance sales at each location.
Winn-Dixie said it will seek final Bankruptcy Court approval of these sale agreements at a future court hearing, but did not say when.
The stores, sold to 14 different purchasers, are some of the 35 locations the company closed earlier this year following a store base evaluation.
Winn-Dixie president and CEO Peter Lynch said: “We are pleased with the results of the auction of the leases for these stores, which exceeded our expectations.
“The proceeds from these sales will provide additional liquidity as we prepare to emerge from Chapter 11. We were able to place most of our associates in other Winn-Dixie locations, minimizing the impact of these store closings on our Associates.”