Jacksonville-based grocery store chain Winn-Dixie could soon close some of its stores for good.
Bloomberg News reported Friday that the chain’s owner, Bi-Lo, is preparing for bankruptcy and the filing could come as early as next month.
Bi-Lo LLC is a subsidiary of Southeastern Grocer. In addition to Winn-Dixie and Bi-Lo, Southeastern Grocer also operates under the Fresco y Mas and Harvey’s names.
According to the Bloomberg report, Bi-Lo is planning on shutting down 200 stores, but Southern Grocers may try to find a way to restructure its debt outside of court.
Supermarket News reported that Southeastern Grocers’ financial issues are not new. Last year, Moody’s Investors Service downgraded the company’s debt to indicate a high degree of risk. In November, Moody's said the retailer needed to revamp its capital structure in the face of significant debt due to mature this year and next.
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