SEG to file for bankruptcy, close nearly 200 stores

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Knight
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Re: SEG to file for bankruptcy, close nearly 200 stores

Post by Knight » March 19th, 2018, 11:12 pm

I am hearing speculation about remaining Southeastern Grocers stores. First, additional stores are planned for closure. An announcement is projected for August. Second, a quantity of BI-LO stores in South Carolina are for sale. Publix is speculated to have interest in a good quantity of stores.

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Re: SEG to file for bankruptcy, close nearly 200 stores

Post by pseudo3d » March 20th, 2018, 6:19 pm

Knight wrote:
March 19th, 2018, 11:12 pm
I am hearing speculation about remaining Southeastern Grocers stores. First, additional stores are planned for closure. An announcement is projected for August. Second, a quantity of BI-LO stores in South Carolina are for sale. Publix is speculated to have interest in a good quantity of stores.
I'm sure that they have that other 100 to close next, and with it additional sales. By this point, I'd be surprised if there are any MS/LA stores after this, and Shoppers Value tearing into the western New Orleans market indicates that New Orleans is no longer "safe" even if the rest of Louisiana and Mississippi melted down.

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Re: SEG to file for bankruptcy, close nearly 200 stores

Post by wnetmacman » March 20th, 2018, 6:25 pm

pseudo3d wrote:
March 20th, 2018, 6:19 pm
I'm sure that they have that other 100 to close next, and with it additional sales. By this point, I'd be surprised if there are any MS/LA stores after this, and Shoppers Value tearing into the western New Orleans market indicates that New Orleans is no longer "safe" even if the rest of Louisiana and Mississippi melted down.
Well, I would think that the Shoppers Value group is probably testing the waters in New Orleans, and they would need some time to decide to take over the rest of the stores there. Rouses may want a few as well, and I am thinking that may be the next announcement. I also know that the SV group doesn't have very deep pockets, so they may be just taking the stores they can currently afford.

Right now, no SEG market is safe, because they can simply toss them off in chapter 7. Manufacturing and Distribution has already been sold and outsourced, so there isn't much left to cash out on.

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Re: SEG to file for bankruptcy, close nearly 200 stores

Post by Knight » March 20th, 2018, 10:32 pm

pseudo3d wrote:
March 20th, 2018, 6:19 pm
I'm sure that they have that other 100 to close next, and with it additional sales. By this point, I'd be surprised if there are any MS/LA stores after this, and Shoppers Value tearing into the western New Orleans market indicates that New Orleans is no longer "safe" even if the rest of Louisiana and Mississippi melted down.
I would also be surprised if BI-LO and Harvey's Supermarket are in North Carolina after this year.

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Re: SEG to file for bankruptcy, close nearly 200 stores

Post by rwsandiego » April 2nd, 2018, 9:47 pm

According to this article, six stores are being sold to three owners of Piggly Wiggly stores.

PS: The press release is dated five days ago, but didn't see a post about the transaction. If this is a duplicate my apologies.

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Re: SEG to file for bankruptcy, close nearly 200 stores

Post by Knight » April 3rd, 2018, 2:00 pm

Those six stores being divested by Southeastern Grocers to independent Piggly Wiggly operators are three BI-LO stores and three Harvey's Supermarket stores. Of the three BI-LO stores, two were Piggly Wiggly Carolina Company stores acquired by BI-LO in 2013.

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Re: SEG to file for bankruptcy, close nearly 200 stores

Post by Knight » April 3rd, 2018, 2:07 pm

Recent speculation and happenings at Southeastern Grocers:

The BI-LO East and BI-LO West regions have consolidated into one region, BI-LO. A region vice president and two district managers have separated as regions and districts were consolidated.

Additional stores will close in August.

A quantity of BI-LO stores will be divested to another supermarket.

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Re: SEG to file for bankruptcy, close nearly 200 stores

Post by rwsandiego » April 3rd, 2018, 7:43 pm

Knight wrote:
April 3rd, 2018, 2:00 pm
...two were Piggly Wiggly Carolina Company stores acquired by BI-LO in 2013.
That would be funny if it wasn't so sad.

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Re: SEG to file for bankruptcy, close nearly 200 stores

Post by architect » April 3rd, 2018, 8:42 pm

Knight wrote:
April 3rd, 2018, 2:07 pm
Recent speculation and happenings at Southeastern Grocers:

The BI-LO East and BI-LO West regions have consolidated into one region, BI-LO. A region vice president and two district managers have separated as regions and districts were consolidated.

Additional stores will close in August.

A quantity of BI-LO stores will be divested to another supermarket.
BI-LO consolidating makes complete sense, as their core stores are pretty much homogeneous from a marketing standpoint and could be effectively served from one region. Like you previously said, I imagine that SEG will close/divest their remaining NC stores as part of the August closures, along with possibly leaving LA and MS.

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Re: SEG to file for bankruptcy, close nearly 200 stores

Post by Knight » April 4th, 2018, 7:22 am

I do not know the present alignment of Southeastern Grocers' regions beyond Alabama/Louisiana/Mississippi and BI-LO.

Beyond four BI-LO stores in quality locations in North Carolina, I do not see any BI-LO and Harvey's Supermarket stores in the state worth saving.

A quantity of BI-LO stores in South Carolina divested to another supermarket would be a bold move. A supermarket speculated to acquire a quantity of BI-LO stores is established in South Carolina, has some locations competing directly against BI-LO, and is not in cities where BI-LO operates.

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