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Winn-Dixie Owner Bi-Lo Prepares for Bankruptcy Filing

  • Creditors also have considered debt-to-equity swap for grocer
  • Company previously sought court protection in 2005 and 2009

Bi-Lo LLC, the supermarket company that owns the Winn-Dixie chain, is preparing for a potential bankruptcy filing as soon as next month, according to people with knowledge of the matter.

The retailer is planning to shut almost 200 stores as part of the move -- either before or after the filing -- said one of the people, who asked not to be identified because the process isn’t public. The business, which went bankrupt in previous incarnations in 2005 and 2009, may still find a way to restructure its debt out of court.