CHARLESTON, SC (WCSC) - Officials have announced that a number of BI-LO stores in South Carolina including locations in the Lowcountry are closing.
Southeastern Grocers, who owns BI-LO, released a statement on Thursday stating a number of their stores will close after the company conducted a thorough review of options for reducing their current debt.
The following BI-LO stores in the Lowcountry will be closing:
- 9616 Hwy 78 in Ladson
- 774 South Shelmore Blvd. in Mt. Pleasant
- 4391 Dorchester Rd. in North Charleston
- 1452 Boone Hill in Summerville
A total of 19 BI-LO stores in the state will be closing.
The company released the following statement:
Southeastern Grocers has conducted a thorough review of options for reducing our current debt. Taking this step was critical to our future and the long-term health of our business.
After careful consideration, we have chosen to voluntarily implement a court-supervised, prepackaged restructuring agreement. We have not taken these steps without careful planning and consideration. As part of this restructuring, we have made the difficult but necessary decision to close 94 underperforming stores. It is our goal to work through our financial restructuring as quickly and efficiently as possible, and we will emerge from this process likely within the next 90 days.
We will continue to thrive with 582 successful stores in operation and will continue to deliver a store experience our associates, customers and communities can count on.
The story for our company and for our iconic, heritage banners is still being written. As part of this transformational process, our three-year plan will create stunning, remodeled stores in a significant portion of our footprint. This revitalization will also provide our customers with fresh, new concepts and products to cater to the local tastes and needs of the neighborhoods we serve.