Southeastern Grocers LLC, the Jacksonville, Fla.-based parent company of Southeast supermarket banners Bi-Lo and Winn-Dixie, has cancelled for an initial public offering (IPO). The company didn't give a reason for the move in a terse U.S. Securities and Exchange Commission filing.
In September 2013, Southeastern, which has more than 650 Bi-Lo and Winn-Dixie stores in Alabama, Florida, Georgia and Louisiana, filed for an IPO of up to $500 million. When contacted by PG, the company, also known as Bi-Lo Holdings, declined to comment on the matter.
As reported by Reuters, IPO filings have increased since April 2012, when the JOBS (Jumpstart Our Business Startups) Act went into effect, permitting companies to pay lower registration fees and disclose less information to investors when they go public, but its smaller window for complying with regulatory requirements has proved problematic for some companies.