• News
  • Money

Tops Friendly Markets planning for bankruptcy

Tops Friendly Markets planning for bankruptcy

Bi-Lo is planning to shut nearly 200 stores - either before or after its filing - one person said.

The move would allow the company to seek court protection from its creditors.

Winn-Dixie has struggled in recent years, with the chain previously filing for bankruptcy in 2005 and 2009. Bi-Lo is reportedly more than $1 billion in debt after being bought out by Lone Star Funds in 2005.

Bi-Lo LLC is a subsidiary of Southeastern Grocer.

There was no immediate comment on the Bloomberg report by Tops. Bi-Lo acquired Winn-Dixie in 2012.

Tops Friendly Markets is now headquartered in Williamsville, New York and operates about 170 stores across New York, Pennsylvania, and Vermont.

Bloomberg is citing inside sources familiar with the supermarket chain. They say the Williamsville-based supermarket's debt and intense industry competition may be behind the potential filing.

But same-store sales began to stall, and debt was used to help finance at least $375 million in dividends for its private-equity owners.

Leave Your Comment

Leave Your Comment


Latest News

  • Former Playboy Playmate Details Alleged Affair With Donald Trump

    Former Playboy Playmate Details Alleged Affair With Donald Trump

    She wrote that their first date was dinner in a private bungalow at the Beverly Hills Hotel that allegedly turned intimate. While Trump lawyer Michael Cohen confirms he "facilitated" the payment to Daniels, he has not disclosed its objective .
    National Hockey League  commissioner Bettman condemns 'reprehensible' Smith-Pelly abuse

    National Hockey League commissioner Bettman condemns 'reprehensible' Smith-Pelly abuse

    Just because I'm a professional hockey player: they just don't understand. The Blackhawks also released a statement Saturday after the game.
    Rare natural disaster  rattles Wales, southern England

    Rare natural disaster rattles Wales, southern England

    Their early reports say the natural disaster measured 4.4 at a depth of 7.4km, with the epicentre 20km away from Swansea. Residents as far north as Blackpool, as far south as Roche in Cornwall and as far east as Reading felt the effects.
  • Dog Food Withdrawn from Store Shelves Over Concerns About Euthanasia Drug Contamination

    Dog Food Withdrawn from Store Shelves Over Concerns About Euthanasia Drug Contamination

    One somewhat stomach-churning possibility being bandied about: animals that were put down somehow ended up in the pet food. Thanks to ABC7′s findings, the FDA may finally start to do something to prevent pentobarbital from ending up in pet food.
    Kate Middleton's BAFTA Dress Brilliantly Balanced #TimesUp & Royal Protocol

    Kate Middleton's BAFTA Dress Brilliantly Balanced #TimesUp & Royal Protocol

    And it's finally time for the silver screen's biggest stars to descend on London for the 71st British Academy Film Awards . Kensington Palace declined to comment on Kate's decision to wear green instead of black in solidarity with other women.
    Trump extends best wishes for Lunar New Year

    Trump extends best wishes for Lunar New Year

    A "racist" blackface skit show on China's CCTV New Year's Gala has sparked worldwide outrage. A performer takes part in a night parade to celebrate Chinese New Year in Hong Kong.
  • CDC stresses warning signs of flu in children

    CDC stresses warning signs of flu in children

    Bloomstrand says we have many more weeks of the flu season left and urges those who haven't to get vaccinated. One usually dominates early on in the season and the other usually comes a little later in the season.
    Russian church shooting leaves 4 dead

    Russian church shooting leaves 4 dead

    The injured include two members of local security services and two civilians, also women, the Interfax news agency said. It has been the scene of an Islamist insurgency following separatist wars in the neighbouring Chechnya.
    Ilya Kovalchuk scores twice as Russians outclass US 4-0 at Olympics

    Ilya Kovalchuk scores twice as Russians outclass US 4-0 at Olympics

    The U.S. spent the rest of the second period unable to convert on a delayed-penalty chance and a couple of power plays. USA head coach Tony Granato was so infuriated that he refused to shake hands with his Russian counterpart Oleg Znarok.
  • Pochettino stresses importance of Rochdale FA Cup match

    Pochettino stresses importance of Rochdale FA Cup match

    Dale have never reached the quarter-finals, and Dunphy said: "In my memory it's the biggest game we've ever played". "The performance deserved at least the opportunity to go to Wembley in a replay", Hill added.
    Poland defends PM's Holocaust remark

    Poland defends PM's Holocaust remark

    Polish Prime Minister Mateusz Morawiecki, speaks during the 54th Munich Security Conference (MSC), in Munich, Germany. The two agreed that the countries would continue their dialogue on the matter.
    Aiyaary to not release in Pakistan

    Aiyaary to not release in Pakistan

    They claimed that the movie was "against our traditions and culture", not allowing their distributors to import the film. After Jai turns rogue a war is triggered between the master and the protege.
  • NBA All-Star Saturday 2018 results, winners: Dunk, 3-Point and Skills

    His name may be Dennis Smith Jr . but, he is not the son of former National Basketball Association player Dennis Smith . He lobbed the ball to himself on the glass, then tipped it a second time above the rim and dunked on the second effort.
    Fire put out in Jokhang Temple in China's Tibet

    Fire put out in Jokhang Temple in China's Tibet

    On Twitter, which is blocked in China, Tibetans overseas noted that photos and posts about the fire were quickly being censored. The site is also known to be politically sensitive, as the Chinese government continues its crackdown on Tibetan Buddhists.
    Emma Watson donates £1m to help fund for sexual harassment victims

    Emma Watson donates £1m to help fund for sexual harassment victims

    British actress Emma Watson has contributed £1 million to the UK Justice and Equality Fund following the launch of the Time's Up campaign.
  • Multi party system in India enrichesour democracy - Modi

    Multi party system in India enrichesour democracy - Modi

    However, he felt that there should be more national parties in the country. "Their sacrifices won't go in vain", he added. BJP is the first party to comply with the Supreme Court's order to shift out of the Luyten's Bungalow area in Delhi.
    Massive storm on Neptune is mysteriously shrinking, but why?

    Massive storm on Neptune is mysteriously shrinking, but why?

    And it probably stinks: "The dark spot material may be hydrogen sulfide, with the pungent smell of rotten eggs". Enormous dark storms on Neptune were first detected in 1989 by NASA's Voyager 2 spacecraft.
    Plane Crash in Iran Kills 66 in Foggy, Mountainous Area

    Plane Crash in Iran Kills 66 in Foggy, Mountainous Area

    Iranian airlines have an aging fleet due to ongoing sanctions on the country, struggling to obtain spare and replacement parts. It's also too risky to send helicopters, but a drone will be flown to the area, Red Crescent Society officials said .

Breaking News



Recommended

Real Madrid midfielder Toni Kroos sprains knee ligaments

Real Madrid midfielder Toni Kroos faces a spell on the sidelines after his club confirmed on Friday that he had picked up a knee injury.

Latvian media say central bank chief's office raided

ABLV said in a statement in response on Tuesday that FinCen had referred to unfounded and misleading information about the bank. It did not comment on the investigation directly, although noted it has a "zero tolerance policy" on corruption.

Pope U-turn in priest sex abuse case

The second wish, he said, concerned young people, adding that they needed to be accompanied with trust and patience. Scicluna and Cruz will meet on Saturday morning in a church in NY , the Chilean victim told Radio Cooperativa.

An global flight was completely ruined because one passenger didn't stop farting

Tempers raged on the flight and the pilot reported "passengers on the rampage", after making the decision to land the plane. This soon resulted in a heated argument as passengers began complaining and eventually a fight broke out.

American Airlines agent saves teens from suspected human trafficking plot

He had offered them $US2000 (£1,425) to fly to NY for the weekend where he told them they would model and feature in music videos. Miracle noticed the ticket from Sacramento to NY was purchased online, and the credit card had a different name.

Mexico natural disaster : 7.2 magnitude tremor rocks capital as buildings shake

According to the Interior Minister of Mexico, Alfonso Navarrete, the aircraft's pilot lost control while landing. Oaxaca prosecutor's office stated that fourteen people including a six-month-old baby were killed in the crash.

Barnaby Joyce should resign: Newspoll

Joyce warned that any pressure on the Nationals to dump him "locks people in as they lock-in behind the leader". Mr Joyce returned fire a day later, describing Mr Turnbull's comments as "inept", "unnecessary" and "hurtful".

Florida school shooter 'could plead guilty to avoid the death penalty'

They are students who need to understand that this can very quickly happen to them. "Get back to the basics and make us all proud!"

Barcelona boss highlights reason why Chelsea have upper hand in CL tie

In the second half we struggled, we weren't able to get close to their area, but it was easier when they went down to 10 men. Eibar has won five of its past eight games, meaning José Luis Mendilibar's team heads into Saturday's game in great form.

22 killed in multiple bomb blast in Borno

But suicide attacks and raids persist, with civilians in hard-to-reach rural areas and outlying towns at risk. Boko Haram jihadists are being blamed for the blasts, though the group has yet to say it was behind them.