by Christian Stegmaier
cstegmaier@collinsandlacy.com
Mauldin-based Bi-Lo, a fixture in South Carolina’s supermaket retail sector, has filed for Chapter 11 Bankruptcy protection in an effort to reorganize its debt.
From today’s (3/24/09) edition of The State:
The grocery chain said it filed a voluntary petition for relief under Chapter 11 of the United States Bankruptcy Code and intends to use the court-supervised process to address “an upcoming debt maturity.”
Bi-Lo said it expects to reach “mutually acceptable resolutions with all of its constituencies and to exit bankruptcy as expeditiously as possible.”
The company said its stores will remain open and operations will continue without interruption.
Bi-Lo operates in the Carolinas, Georgia and Tennessee. It operates 215 supermarkets, including 130 in South Carolina. The company employs approximately 15,500 workers, including about 10,100 in South Carolina.
Click here for full story: http://www.thestate.com/746/story/725124.html
