JACKSONVILLE (970 WFLA) -- The parent company of Winn-Dixie and other supermarket chains has exited bankruptcy protection.
Southeastern Grocers says it emerged from Chapter 11 in record time, cutting debt by about 600 million dollars, in part by trading debt for an ownership stake. SEG closed almost 100 stores when it filed earlier this year. It plans to operate more than 575 stores under several brands, including Winn-Dixie, Harvey's and Fresco y Mas.
Southeastern says it will invest in store remodels and even new stores with its improved balance sheet. It also plans to roll out a new customer rewards program in July to replace Plenti, which is shutting down.