Posted 7/28/2010 - 2:12:40 PM

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Supermarket chain Winn-Dixie Stores said it will close 30 under-performing stores and cut 120 corporate and field support staff jobs to reduce costs, incurring related charges in the first quarter of fiscal 2011.

Winn-Dixie said it expects to take charges of $35 million to $50 million and expects to save $12 million to $17 million annually. The company also said it would consolidate its operating regions to three. Winn Dixie now operates in four regions.

"We continue to operate in a particularly difficult economic and retail environment in the Southeast," Peter Lynch, Winn-Dixie chief executive, said in a statement.

Winn-Dixie also said it expects to report fiscal 2010 adjusted EBITDA at the low end of its outlook range of $140 million to $160 million.