Monday, March 23, 2009
Bi-Lo files for bankruptcy protection
In recent years, Bi-Lo has seen a lot of ups and downs. The grocer is in a unique position, trying to find a niche with itself between discount grocer and semi-upscale hyper-market. With a tough economy, the chain which is based near Greenville, South Carolina has filed for bankruptcy protection. Since 2005, Bi-Lo stores have dwindled more than they have prospered, as they were sold off from Ahold to Lone Star Funds along with their sister supermarket Bruno's. Many stores were shuttered or turned to C&S Wholesale's Southern Family Markets, which failed miserably. Some may say this was inevitable, but doesn't come as a major surprise. Despite the bankruptcy protection filing, Bi-Lo says they will continue to operate stores as normal. Read more about this from the Greenville News here. The pictured store is in Rutherfordton, NC.