Winn-Dixie Picks Up $725M Exit Loan

Law360, New York (July 28, 2006, 12:00 AM EDT) -- Winn-Dixie Stores Inc. checked out with a $725 million exit loan on Thursday, putting the supermarket chain in the express line to emerge from Chapter 11 bankruptcy protection in October, as planned.

Judge Jerry Funk of the U.S. Bankruptcy Court for the Middle District of Florida approved the financing, authorizing Winn-Dixie to enter into an agreement with Wachovia Bank.

The supermarket chain will use the financing mainly to pay off its debtor-in-possession loan and to provide working capital.

“It appear[s] to the court that the relief...
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