BI-LO parent company to close 94 stores, including 5 in Midlands - wistv.com - Columbia, South Carolina

BI-LO parent company to close 94 stores, including 5 in Midlands; will file Chapter 11

(Source: WIS) (Source: WIS)
GREENVILLE, SC (WYFF) -

The parent company of BI-LO grocery stores is filing for Chapter 11 and is closing 94 stores in the Southeast, five of them in the Midlands.

Southeastern Grocers, LLC is the parent company of BI-LO, Fresco y Mas, Harveys Supermarket and Winn-Dixie grocery stores. It is one of the largest supermarket companies in the U.S., serving communities in Alabama, Florida, Georgia, Louisiana, Mississippi, North Carolina and South Carolina.

Southeastern Grocers has entered into a restructuring support agreement and will voluntarily file prepackaged Chapter 11 cases to efficiently execute its restructuring. The company's goal is to work through financial restructuring as quickly and efficiently as possible. Officials say they expect the company to emerge within the next 90 days.

Under the restructuring, Southeastern Grocers is closing 19 stores in Georgia, nine stores in North Carolina and 19 stores in South Carolina, including five in the Midlands.

Midlands stores that will be closing are:

Harvey's: 3315-B Broad River Road, Columbia 

Harvey's: 2230 Decker Boulevard, Columbia

Harvey's: 3900-B. North Main Street, Columbia

Harvey's: 1937 Wilson Road, Newberry

BI-LO: 10560 Dunbarton Boulevard, Barnwell

To see the complete list of stores that will be closing, click here.

Southeastern Grocers officials said they conducted a thorough review of options for reducing the company’s current debt and have chosen to “voluntarily implement a court-supervised, prepackaged restructuring agreement.”

“We have not taken these steps without careful planning and consideration,” a news release said. “As part of this restructuring, we have made the difficult but necessary decision to close 94 underperforming stores. It is our goal to work through our financial restructuring as quickly and efficiently as possible, and we will emerge from this process likely within the next 90 days.

“We will continue to thrive with 582 successful stores in operation and will continue to deliver a store experience our associates, customers and communities can count on.

“The story for our company and for our iconic, heritage banners is still being written. As part of this transformational process, our three-year plan will create stunning, remodeled stores in a significant portion of our footprint.

"This revitalization will also provide our customers with fresh, new concepts and products to cater to the local tastes and needs of the neighborhoods we serve.”

Copyright 2018 WYFF & WIS. All rights reserved. 

Powered by Frankly