Bi-Lo has a number of stores in Georgia, but none in metro Atlanta. Most are located in east Georgia and along the coastal communities in and around Savannah. Most of its stores are in South Carolina with some also operating in North Carolina.
The Jacksonville-based company Bi-Lo LLC, which owns the chains, has been strained as big-box retailers and Amazon have moved into the grocery business, Bloomberg reported. Older chains are having to revamp their stores or consolidate to keep up.
Bloomberg’s report, based on sources knowledgeable of the plan, said Bi-Lo may try to restructure its business as it did during bankruptcies filed in 2005 and 2009. The company is carrying more than a $1 billion in debt following a buyout 13 years ago by Lone Star Funds.