The grocery store chain that owns Bi-Lo, Winn-Dixie and Harvey’s is facing bankruptcy within the next month, according to Bloomberg news.
Southeastern Grocers, the parent company, has looked into other options before going bankrupt, such as asset sales and debt-to-equity sales. The company has gone bankrupt twice already and carries $1 billion in debt to its creditors.
Bi-Lo has yet to close stores or lay off employees, but it has been reported that up to 200 stores could be closing among the grocery chains. Southeastern Grocers also owns Fresco y Mas, which could be affected as well.
The company is the fifth-largest grocer in the U.S., owning 700 stores and employing 50,000 workers.