Thursday, March 15, 2018

SEG to Delcare Bankruptcy


Winn-Dixie - Sebastian, FL

     Well here it is, the news we have all been waiting for. SEG announced today that they will be declaring bankruptcy, and closing 94 stores as part of that plan - slightly less horrible than the 200 closures originally predicted. Included in the closing locations are a good number of recently converted Harvey's stores (including the original "new" Harvey's store on Edgewood Drive in Jacksonville) and one Fresco y Mas store (the West Palm Beach location, which I covered in this post prior to its Fresco y Mas remodel). There are also a good number of former Sweetbay stores on the list too, which I was expecting. Anyway, if you want to comb through the list, feel free to by clicking here and downloading the PDF under the "For Our Customers" menu on the right side of the page. I don't have the time to go into more detail about the closing stores right now, although if I find the time I might add to this post. Anyway, if you want to read more about the bankruptcy itself, here's an article on that.

AFB

12 comments:

  1. I was sad to see the Clemson, SC, BI-LO on the list. I haven't been there personally, but I've seen some photos of it online. It's such a neat-looking place!

    And, of course, I'm sad for the other 93 stores closing as well. An article on the Biloxi store closure said employees inside were crying as the pharmacy permanently closed at 5PM today. I hate hearing of things like that. Customers can find another place to shop fairly easily, but it takes a bit longer for employees to find new jobs elsewhere...

    ReplyDelete
    Replies
    1. I just looked up that BI-LO in Clemson, SC. It's a shame that one is closing. BI-LO really went all out with that store to embrace the city and Clemson University with the custom decor and signage, and even adding the Clemson pawprint to their logo on the front of the building too!

      The other major effect of these closings are all the jobs lost. That story from the Biloxi store is really sad, and I hate hearing things like that too. I heard a similar story from an employee I spoke with at the Palm Bay Kmart on that store's last day. Hopefully all of the employees can find work elsewhere soon...

      Delete
  2. Bi-Lo really ran this chain into the ground. Jupiter is completely wiped of its 2 stores. I am more surprised of the stores that will still be operating here in West Palm Beach. The Winn Dixie at in the Cross County shopping center at Okeechobee Blvd and Military Trail is just so awful...everything about it from the decor, to the condition of the floor, to the staff, etc. I learned recently that location pays virtually little rent since the center's owners lost Kmart there and are doing all they can to retain Ross and Winn Dixie (Ross opened another location nearby at the Palm Beach outlets but the old one remains in this center as well just a 1.5 miles away).

    ReplyDelete
    Replies
    1. I'm surprised Winn-Dixie couldn't hang onto at least one of those two stores in Jupiter. That leaves Winn-Dixie with a large void in Northern Palm Beach County now. I heard a while back (possibly from you) that the Cross County Winn-Dixie was a rather high volume store too. If they store does well, you think they'd want to invest in it and remodel it, but who knows with SEG.

      Delete
  3. I guess SEG has its reasons/rationale for the closing stores, but some remaining open are real head-scratchers.
    Tallahassee proper will be left with a single Winn-Dixie (#86, Magnolia Park) once the musak stops.
    In 2000, there were 7.
    One of the Tallahassee stores closing, #125 (1525 W. Tharpe Street), replaced two older WDs when it opened in 2000, #88 (1964 W. Tennessee St., which eventually became Albertsons #4497 and part of which is now a Lucky's) and a 1980s Marketplace at 1000 W Tharpe St., which is now Leon County Human Services.
    From the pictures on Google, #125 has never been remodeled - it opened with the same "Cheap" Marketplace interior.
    I can think of three situations where an existing Winn Dixie and a Sweetbay Winn Dixie are within a few miles of each other, I guess these locations have the foot traffic to justify staying open:
    Holiday - existing WD (former Albertsons #4324) and Sweetbay are less than two miles apart on US 19. The Sweetbay is also 2.5 miles away from another original WD on SR 54 in Elfers.
    Seminole - Largo Village and the first Sweetbay ever built are exactly 1 mile apart on Seminole Blvd.
    Spring Hill - original WD is less than 3 miles from a Sweetbay along Mariner Blvd.

    ReplyDelete
    Replies
    1. There are a few Winn-Dixie stores in my area that I thought would make the list, but were spared this time around. That's crazy that a city as large as Tallahassee will be down to one Winn-Dixie store by the end of April. Gainesville, while a little smaller, will also be facing the same situation too by the end of April with only one store left in town. Winn-Dixie #125 was looking a bit old and tired in the recent pictures. The one thing that jumped out to me at that store was that the aisle signs were a mix of Transformational era signs and the original Marketplace signs. With the number of Winn-Dixie stores that have closed in the past, the could have tried to ship some old signs over to #125 to have matching set at the very least, regardless of which decor package they came from. With the large number of former Sweetbay stores being cast off in this closing round, the fact they're leaving some stores so close to each other is a bit surprising. Like you said, they must be getting some decent volume to keep those somewhat redundant locations open.

      Delete
  4. Thing is they still may not come out of this. Look at Toys R Us. They announced closures but then there is now way to get rid of the debt. Same thing could happen. May even see someone come in and buy the rest of the chain. I’m pulling for Kroger. We need some competition for Publix down here in Florida. Publix stores may be clean and nice but they are horribly expensive.

    ReplyDelete
    Replies
    1. You know who else is being run by Private Equity....and who else is piling on massive amounts of debt?? Albertsons. It’s only a matter of time, as their same-store-sales continue to fall, and as their debt payments continue to balloon...they are headed right in the same direction as Toys R Us, A&P, Pathmark, Winn-Dixie, Kmart/Sears, and so many others. Leveraged buyouts rarely are good for retail. They are ALWAYS good for the Wall-Street guys who suck the remaining value out of the company as they pile on the debt. But these are brands which have seen their best years anyway, and are on the decline...so I guess they basically speed up the process.

      Delete
  5. Sorry no way to get rid of the debt.

    ReplyDelete
  6. I note a lot of Harvey's stores closing, especially in Georgia! Any idea if these are legacy Harvey's stores or if they are new converts (ex-Winn-Dixie?) Also, I am thinking maybe Food Lion converted some of its loser stores to the Harvey's brand over the years....so these could also be the ones closing. I was surprised to see so many Harvey's closing, though. I thought this was a winning banner for SEG.

    ReplyDelete
    Replies
    1. Not sure on the Georgia ones but several Florida ones were originally Winn Dixie’s. I am also surprised that several stores on the list are remodeled stores either Harvey’s or remodeled Winn Dixie’s and others that aren’t on the list have never been remodeled since opening like Haines City FL or Dundee FL

      Delete
  7. Winn Dixie needs to go back to The roots of operation become a discount grocery like they once where they had lots of store brand Superbrand ,lilac ,Astor Cracklin good ,Dixie darling , table supply etc. etc. they use to Focus on our store brands I think in today’s time that will do good

    ReplyDelete