SC-based grocer emerges from bankruptcy protection

GREENVILLE, S.C. (AP) - South Carolina-based grocery chain Bi-Lo has emerged from Chapter 11 bankruptcy.

Bi-Lo president and chief executive Michael Byars said Wednesday that the company had successfully completed its financial restructuring and was emerging from bankruptcy stronger and leaner.

In March 2009, Bi-Lo filed a voluntary petition for Chapter 11 protection to address an upcoming debt maturity. The U.S. Bankruptcy Court for the District of South Carolina approved a reorganization plan last month, and the company says it has reduced its funded indebtedness by approximately $60 million.

Bi-Lo, based in Mauldin, employs about 15,500 people and operates more than 200 supermarkets in South Carolina, North Carolina, Georgia and Tennessee.

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