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BI-LO, Llc
BI-LO Receives Court Approval of Key 'First Day' Motions
April 19th, 2009
BI-LO, LLC and certain affiliates (the "Company") announced the approval of key "first day" motions by the United States Bankruptcy Court for the District of South Carolina (the "Court") that will allow the Company's operations to continue uninterrupted through the Chapter 11 financial restructuring. The Court approval gives the Company interim authority to use its cash on hand and cash generated from operations to continue meeting its normal business obligations, including paying employee wages and benefits without interruption and paying suppliers for all post-petition purchases of goods and services in the ordinary course of business. Additionally, today's ruling...
Source: Pharma Investments, Ventures & Law Weekly (2009-04-19)
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