Food Lion may buy out Bi-Lo, which is in the middle of Chapter 11 bankruptcy proceedings. The deal would include Bi-Lo’s 214 supermarkets in Tennessee, Georgia, North Carolina, and South Carolina.
However, before the buy out is made, it must be approved in federal bankruptcy court. The buyout will be submitted as part of Bi-Lo’s restructuring plan for its creditors and lenders.
If your company is considering filing for bankruptcy, contact the Milwaukee bankruptcy lawyers of the DeLadurantey Law Office, LLC, at 414-377-0518.