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Bi-Lo Files for Bankruptcy

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Saying its lenders were unable to extend terms on a loan set to mature this week, supermarket chain Bi-Lo LLC here filed for Chapter 11 bankruptcy protection on Monday. The filing comes only weeks after a former sister chain, Bruno's Supermarkets, filed its own Chapter 11 petition. Both chains are owned by Lone Star Holdings, a Dallas-based private equity firm, which acquired them together from Ahold in 2005.

Bi-Lo named a new chief executive officer, Michael Byars, last month. Bi-Lo operates 215 supermarkets in the Southern U.S.

Link.

Bankruptcies and Liquidations:

Potential Bankruptcies & Liquidation Impact: 884 confirmed closures out of about 2,476 stores

Announced Closings

Total Closings: up to 1,058 U.S. stores

Potential Impact of All Announcements to Date: 1,942 closures out of up to 3,534 potentially affected U.S. stores

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Elaine Misonzhnik

Senior associate editor Elaine Misonzhnik has been writing for National Real Estate Investor since June 2006 and has covered commercial real estate for more than 12 years. She first became...
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