Major South Carolina Supermarket Retailer Seeks Bankruptcy Protection to Restructure Debt
by Christian Stegmaier
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.
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