The Dixie Group Announces Sale and Leaseback of Distribution Facility

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Jun 07, 2023

DALTON, GA / ACCESSWIRE / June 6, 2023 / The Dixie Group, Inc. (NASDAQ:DXYN) today announced it has entered into an agreement for the sale and leaseback of its distribution facility in Adairsville, Georgia. The Company anticipates the transaction will close in the third quarter of 2023. Upon closing the transaction, the Company expects to recognize a significant gain in net income. The proceeds from this financing transaction will be used to significantly reduce the Company's debt and increase availability of funds under its existing lines of credit.