Publix Super Markets will acquire a lease of a closing Bi-Lo store in Seneca, S.C., according to a filing from Southeastern’s bankruptcy proceedings.
Publix would pay $100,000 for the lease for site, expiring in 2021, along with fixtures, equipment, permits and licenses associated with the store. The Seneca store was among 94 stores that Southeastern said in March would close.
A spokesperson for Lakeland, Fla.-based Publix wasn’t immediately available for comment. When buying stores from competitors, Publix will typically close locations for up to several months for renovation before reopening.
Southeastern has also asked the court to approve deals to sell four units to Food Lion, as well as deals to sell single units and small groups of stores to independents and small chains.
In a separate court filing, Southeastern said that CEO Anthony Hucker and CFO Brian Carney will retain their roles with the reorganized company.
Hucker has been CEO since succeeding Ian McLeod last summer, and has been with the company since 2016 when he joined as president. Carney has been CEO at Southeastern, and its predecessor Winn-Dixie Stores, for nearly 13 years.
A newly created board of directors for Southeastern includes Hucker; Anthony Abate, COO and CFO of Echo360, a video education firm; Neal Goldman, CEO of Sage Capital Investments; Lionel Harris, portfolio manager of Fidelity Management & Research; and Alan Lhota, managing director of Stifel Financial.
The board would become effective upon the date of reorganization. A meeting to vote on the reorganization plan is set for May 14.