Winn-Dixie requests court OK of bid procedures for $6.25 million Hollywood, Fla., land sale

By Caroline Salls

Pittsburgh, May 9 - Winn-Dixie Stores, Inc. requested court approval of the bidding procedures for the proposed $6.25 million sale of a tract of land in Hollywood, Fla., to stalking horse bidder South Florida Investment Group, LLC, according to a Monday filing with the U.S. Bankruptcy Court for the Middle District of Florida.

Before Winn-Dixie filed for bankruptcy, it bought the tract of land to build a supermarket but has since decided not to build the new store.

South Florida Investment paid a $500,000 deposit.

Competing bids must be for at least $6.26 million and must be accompanied by a 10% deposit.

The auction will be held May 31. The sale hearing is scheduled for June 1.

Winn-Dixie, a Jacksonville, Fla., supermarket company, filed for Chapter 11 on Feb. 21, 2005 in the U.S. Bankruptcy Court for the Southern District of New York. The case was later transferred to the Middle District of Florida. Its Chapter 11 case number is 05-03817.

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