Bi-Lo May Close 200 Stores As It Prepares For Bankruptcy

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It’s just been reported that Bi-Lo might soon close almost 200 stores before filing for bankruptcy next month.

According to a Bloomberg report, “Bi-Lo is laboring under more than $1 billion in debt following its 2005 buyout by Lone Star Funds. The company and its creditors have held talks to discuss a possible debt-to-equity swap, as well as alternatives such as asset sales.”

The closures could mean that several of the 21 Charlotte-area Bi-Lo locations might shut down.

 

A representative for Bi-Lo’s parent company, Southeastern Grocers, has not yet responded to a request for comment.

Bi-Lo, along with most other grocers, has been fighting with staying competitive in today’s world of discount food suppliers like Wal-Mart, Lidl, and Amazon Prime Pantry.

Where do you buy most of your groceries? 

Has this changed over the past few years?

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