Tops Markets Could File for Bankruptcy, According to Bloomberg

by Frankie Norman February 19, 2018, 0:34
Tops Markets Could File for Bankruptcy, According to Bloomberg

Bi-Lo is reportedly more than $1 billion in debt after being bought out by Lone Star Funds in 2005.

Bi-Lo LLC, the parent company of Winn-Dixie, is preparing a potential bankruptcy filing as soon as next month, people with knowledge of the situation told Bloomberg.

Up to 200 stores could close as part of a bankruptcy filing, Bloomberg reported. The company had previously discussed a debt-to-equity swap with its creditors, according to the report.

There are now roughly 500 Winn-Dixie locations in the Southeastern part of the U.S., primarily in Florida. But competition from Publix that expanded aggressively as well as Walmart's push into the grocery business eroded that position.

What would bankruptcy for the Bi-Lo grocery chain mean for the stores under its umbrella?

There was no immediate comment on the Bloomberg report by Tops. That's not entirely clear, which is the real issue f...


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