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Bi-Lo Files for Bankruptcy

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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