Dixie Group to use sale and leaseback funds to pay debt

By William Gullotti

Buffalo, N.Y., June 6 – Dixie Group Inc. entered an agreement for the sale and leaseback of its distribution facility in Adairsville, Ga., according to a press release attached to an 8-K filing with the Securities and Exchange Commission.

The company expects the transaction to close in the third quarter of 2023 and will use the proceeds to reduce the company’s debt and to increase availability under its existing lines of credit.

Dixie is a Chattanooga, Tenn.-based manufacturer, marketer and seller of carpets and rugs to residential and commercial customers.

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