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JACKSONVILLE, Fla. -- A federal judge approved the reorganization plan of Winn-Dixie Stores, Inc. on Friday, paving the way for the retailer's emergence from bankruptcy in the fall if its creditors also accept the proposal.
Winn-Dixie will now mail out 20,000 ballots seeking approval of its plan. The retailer must get unsecured creditors, vendors, and landlords to approve the plan.
The retailer is positioned to emerge from Chapter 11 protection as soon as late October.
In related news, the Davis family, which started Winn-Dixie 81 years ago, is reportedly leaving the company but starting Nocatee, a housing community in Florida that will be developed on 15,000 acres. The community is expected to house 30,000 people in 14,000 homes within 25 years, according to published reports.