The US supermarket group Winn-Dixie Stores is to file a restructuring plan later this month and could emerge from bankruptcy by late-October, having reached repayment agreements with creditors.
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The company’s attorney Stephen Busey told the US District Bankruptcy Judge Jerry Funk that a committee of creditors had reached a compromise on repayments.
A hearing will be scheduled for early-August where all the parties concerned will vote on the plan. Busey added that it would take around 60 days to secure approval of a restructuring plan, which could allow the retailer to emerge from bankruptcy in October.
