Winn-Dixie (company)
| Winn-Dixie Stores, Inc.
|
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|---|---|
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| legal form | Corporation |
| founding | 1925 |
| Seat | Jacksonville , Florida |
| management | Peter Lynch, CEO |
| Number of employees | 47,000 |
| sales | 7.2 billion US dollars (2010) |
| Branch | Grocery retail |
| Website | www.winndixie.com |
Winn-Dixie Stores, Inc. is a US retail group based in Jacksonville , Florida . Based on 2011 sales, Winn-Dixie is the 53rd largest retail company in the United States. The company currently operates 482 stores in Florida, Alabama , Louisiana , Georgia, and Mississippi . It has existed under its current name since 1955. The roots go back to 1925.
history
founding
In 1925, William Davis borrowed $ 10,000 from his father and moved to Miami , where he bought a grocery store called Rockmoor Grocery . In 1927 the business was renamed Table Supply . In addition, four more branches were opened. In 1931 the chain had 33 branches in Florida. William Davis died in 1934 and his four sons took over the company. In 1939 the brothers bought 51 percent of Winn-Lovett, a chain with 73 branches. In 1944, the Winn-Lovett brothers took the company's new name and relocated to Jacksonville.
Renamed Winn-Dixie
Winn-Lovett became the first Florida-based corporation to be listed on the New York Stock Exchange in 1952 . The company continued to grow, taking over many supermarkets in South Carolina, Georgia, Louisiana, and Mississippi. Winn-Lovett also bought the Dixie Home chain and changed its name to Winn-Dixie.
Financial difficulties
In 2003, Winn-Dixie had over 1,000 stores. Nevertheless, the stock was the one with the worst price performance in the S&P 500 . In April 2004 the company closed 156 branches. The total of 111 branches in the American Midwest were among the 156 branches . Some stores in North Carolina, South Carolina, and Virginia have also closed. The trigger for the financial difficulties was the tough competition with competitors Publix and Wal-Mart .
insolvency
On February 22, 2005, Winn-Dixie filed for Chapter 11 bankruptcy . On June 21, Winn-Dixie announced that 326 stores would be sold or closed, meaning a loss of 22,000 jobs. The company closed all stores in North Carolina, South Carolina, Tennessee, Texas, and Virginia.
On February 28, 2006, 35 stores in Florida were closed.
takeover
On November 21, 2006, management announced that it was back in good financial position and that the restructuring was complete.
On March 12, 2012, BI-LO , a US supermarket chain, acquired Winn-Dixie for $ 560 million. Winn-Dixie is now a subsidiary of BI-LO Holding.
Web links
Individual evidence
- ↑ Information on hoovers.com , accessed April 15, 2012
- ↑ 2011 Top 100 Retailers , accessed April 15, 2012
- ^ Winn-Dixie cutting 22,000 jobs , accessed April 15, 2012
- ↑ BI-LO and Winn-Dixie Complete Merger ( page no longer available , search in web archives ) Info: The link was automatically marked as defective. Please check the link according to the instructions and then remove this notice. , accessed April 15, 2012
