WJCT News reports that Southeastern Grocers, parent company to Winn-Dixie, Harveys, and Fresco Y Más supermarkets, has decided to officially end its bid to go public, filing notice with the Securities and Exchange Commission (SEC) "asking to withdraw its registration statement on Form S-1. This form is the initial registration that must be filed by a U.S. company in advance of an initial public offering (IPO)."
Southeastern Grocers originally filed its intention to go public last January, but then delayed it because of concerns that market conditions would not allow it to get the share price it was seeking.
The story notes that "SEG previously filed for an IPO in 2013 but withdrew that plan in 2014. SEG was formed in 2012 after Winn-Dixie Stores Inc. merged with BI-LO LLC. Both Winn-Dixie and Bi-Lo went through Chapter 11 restructurings before their merger. And SEG itself also filed for a Chapter 11 bankruptcy reorganization in 2018.
"After selling off more than 80 BI-LO stores in 2020, Southeastern Grocers now operates stores in Alabama, Florida, Georgia, Louisiana and Mississippi."
- KC's View:
Expect that SEG will file for an IPO again, sometime down the road. Unless, of course, it gets acquired at some point … a prospect against which I would not bet.