Tuesday, February 22, 2005
Winn-Dixie Seeks Bankruptcy Protection
NEW YORK (Reuters) - Winn-Dixie Stores Inc. said on Tuesday that it had filed for bankruptcy protection in order to address the "financial and operational challenges that have hampered its performance."
The supermarket chain said the company and 23 of its U.S. subsidiaries filed on Monday voluntary petitions for reorganization under Chapter 11 of the U.S. Bankruptcy Code.
Winn-Dixie said it had lined up an $800 million debtor-in-possession financing facility from Wachovia Bank.