JACKSONVILLE, Fla. — Winn-Dixie Stores here on Thursday said it would distribute approximately 6.8 million shares of its common stock to settle outstanding unsecured pre-petition bankruptcy claims.
The 6.8 million shares represent substantially all of the shares that had been held in reserve for this purpose, the company said.
The shares will be distributed to those previously holding allowed claims, including noteholders, landlords, vendors and suppliers, retirement-plan participants and other unsecured creditors. As previously announced, the distribution is based on the company’s determination that its bankruptcy share reserve contains more shares than necessary to resolve the remaining unsecured pre-petition claims.
Read More of Today's Headlines
