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BI-LO, Llc
BI-LO Files Voluntary Chapter 11 Petition to Address Upcoming Debt Maturity While Continuing Operations as Normal
April 11th, 2009
BI-LO, LLC and certain affiliates (the "Company") announced that it has filed a voluntary petition for relief under Chapter 11 of the United States Bankruptcy Code in the United States Bankruptcy Court, District of South Carolina (the "Court"). The Company intends to use the Court-supervised process to address an upcoming debt maturity. BI-LO expects to reach mutually acceptable resolutions with all of its constituencies and to exit bankruptcy as expeditiously as possible. BI-LO stores will remain open and operations will continue without interruption. "On an operational level, we are making significant progress this year and we have seen solid sales momentum and strong...
Source: Law & Health Weekly (2009-04-11)
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