| Metric | Details |
|---|---|
| BI-LO Status | Brand closed April 2021 — all locations shuttered |
| Winn-Dixie / Harveys Status | Sold to ALDI Süd August 2023 (~400 stores) |
| Parent Entity | Southeastern Grocers, LLC (Jacksonville, FL) |
| Chapter 11 History | Filed March 2018; emerged May 2018 (prepackaged, 90-day process) |
| Current NNN Tenant | ALDI Inc. (for converted/acquired locations) |
| Former Ratings | Not publicly rated (private company) |
| States Operated | Alabama, Florida, Georgia, Louisiana, Mississippi, NC, SC |
| Former Store Count at Peak | ~704 (Winn-Dixie, BI-LO, Harveys, Fresco y Más) |
| Typical Building Size | 35,000–55,000 SF |
What Happened to BI-LO and Winn-Dixie?
The BI-LO and Winn-Dixie story is one of the most consequential regional grocery restructuring sagas in US retail history — culminating in a complete brand transformation that fundamentally changed the Southeast grocery landscape. Understanding the full timeline is essential for NNN investors with properties in the Southeastern states.
BI-LO (1961–2021): BI-LO was a South Carolina-born grocery chain founded in 1961 that grew across the Carolinas, Georgia, and Tennessee. After multiple ownership changes — including Ahold, Lone Star Funds, and ultimately Southeastern Grocers — the BI-LO banner was permanently closed in April 2021. The brand had already been significantly rationalized following Southeastern Grocers’ 2018 Chapter 11 bankruptcy. All remaining BI-LO locations were either sold to other operators or closed permanently, ending the brand’s 60-year run.
Winn-Dixie and Harveys (sold to ALDI 2023): In August 2023, Southeastern Grocers entered into an agreement to sell approximately 400 Winn-Dixie and Harveys Supermarkets stores to ALDI Süd. This transaction marked the effective end of Southeastern Grocers as an independent operating entity and transferred the Winn-Dixie and Harveys brands to ALDI’s ownership. Acquired locations are being progressively converted to the ALDI format or continuing to operate under the Winn-Dixie/Harveys brand under ALDI’s ownership.
Southeastern Grocers’ 2018 Bankruptcy: A Brief History
Southeastern Grocers filed a prepackaged Chapter 11 in March 2018 — one of the fastest-executed grocery bankruptcies in US history, completing the restructuring in approximately 90 days. The prepackaged plan had been negotiated with creditors holding 80% of the company’s debt before the filing, allowing the company to reduce debt by $500 million, close 94 underperforming stores, and emerge with a stronger balance sheet by May 2018. The 2018 restructuring was a genuine turnaround rather than a liquidation — the company emerged leaner and with improved financial flexibility.
Former BI-LO and Winn-Dixie Properties: Current Status Guide
| Property Type | Current Status | NNN Investor Action |
|---|---|---|
| Winn-Dixie / Harveys in ALDI acquisition | Now ALDI-guaranteed leases | Evaluate as ALDI NNN investment |
| Former BI-LO locations (closed 2021) | Vacant or re-tenanted | Re-tenanting complete in most markets |
| Winn-Dixie not in ALDI deal | Closed — re-tenanting opportunity | Evaluate replacement tenant options |
Re-Tenanting Former Southeastern Grocers Properties
The 35,000 to 55,000 SF Southeastern Grocers supermarket format in Southeast suburban locations is a strong re-tenanting candidate. The Southeast US has experienced significant population growth, and grocery-anchored retail remains highly sought-after. Replacement categories include discount grocers (ALDI converting many directly), conventional grocers expanding in the Southeast (Publix, Winn-Dixie successor operations), value retailers, fitness operators (large format), and healthcare systems seeking outpatient clinic space.
Is BI-LO still in business?
No. The BI-LO grocery brand permanently closed all remaining locations in April 2021 after 60 years of operation. The brand no longer exists as a retail operator.
What happened to Winn-Dixie?
Winn-Dixie and Harveys Supermarkets were sold to ALDI Süd in August 2023. Approximately 400 locations were acquired, with properties either converting to the ALDI format or continuing to operate as Winn-Dixie/Harveys under ALDI ownership. The Southeastern Grocers entity has been effectively absorbed by ALDI’s Southeast expansion strategy.
If I own a former Winn-Dixie property, who is my tenant now?
If your property was included in the 2023 ALDI acquisition, your tenant is now ALDI Inc. — a significant upgrade from the unrated Southeastern Grocers to the world-class Albrecht family credit. You should confirm with your lease documents and counsel whether the assignment occurred correctly through the transaction process.
Own a Former BI-LO, Winn-Dixie, or Harveys Property? We Can Help.
Whether your property converted to ALDI and you want to evaluate its current value, or you own a vacant former Southeast Grocers location, our team provides NNN market intelligence across the Southeast US grocery market.
1031 Exchange — Looking to exchange a Southeast grocery property into investment-grade NNN elsewhere? We source replacement properties and manage the full timeline.
Talk to a Grocery NNN Specialist →
In a 1031 exchange? Tell us your timeline — we move faster.
Related NNN Tenants
Own multiple BI-LO / Winn-Dixie properties? Considering an off-market sale?
Investment Grade represents owners on confidential disposition of BI-LO / Winn-Dixie portfolios and individual properties through off-market direct-to-principal distribution to specialty REITs, private equity funds, and family offices. BI-LO / Winn-Dixie buyer demand runs deep, and portfolio sales consistently produce stronger pricing than sequential individual sales because the institutional buyer pool is structured around portfolio acquisition.
For multi-property owners considering a portfolio disposition, see Selling Investment Grade NNN Off-Market: Tenant-by-Tenant Buyer Demand. For the full off-market framework covering individual property dispositions, sale-leasebacks, and 1031 coordination, see Off-Market CRE Sales: The Complete 2026 Guide.
The pre-listing conversation is at no cost and fully confidential. Email team@investmentgrade.com or see contact Investment Grade.
