The U.S. Federal Trade Commission announced Tuesday that a consent agreement would allow Winn-Dixie Stores, Inc. to acquire 68 supermarkets and other assets from the bankrupt Jitney-Jungle Stores of America, Inc.
Regulators said the agreement would not “illegally reduce competition in the relevant geographic markets.”
Director Richard G. Parker of the FTC Bureau of Competition said this is the first time the FTC has reached an agreement with a supermarket chain concerning the sale of its assets after it had already filed for bankruptcy.
Jitney-Jungle filed Oct. 12, 1999 for Chapter 11 bankruptcy protection, closing more than 45 of its 200 Jitney-Jungle and Delchamps supermarkets in Mississippi, Louisiana, Florida, Arkansas and Tennessee.
It originally proposed selling 72 of the remaining supermarkets to Winn-Dixie for $85 million. The sales plan approved confirmed by the U.S. Bankruptcy Court for the Eastern District of Louisiana on Dec. 15, 2000 is reflected in the FTC`s proposed consent order.
By StoreAlliance.com
