Winn-Dixie Looks To Finalize $725M Exit Loan

Law360, New York (July 11, 2006, 12:00 AM EDT) -- Winn-Dixie Stores Inc. is seeking court approval for a $725 million exit loan it previously negotiated with Wachovia Bank NA, as it tries to emerge from Chapter 11 by the end of October.

If the agreement is approved by the court, the bankrupt supermarket chain will use the money mainly to pay off its debtor-in-possession loan and provide working capital.

But if the agreement is not approved, Winn-Dixie said in court documents that it would be forced to pursue other sources of financing and incur additional...
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