Bi-Lo LLC, which owns Winn-Dixie stores, and Tops Friendly Markets are planning to file for bankruptcy, as Amazon’s purchase of Whole Foods continues to put pressure on retailers.
Bloomberg reported the news of the bankruptcies, citing unnamed sources.
Bi-Lo could file papers for bankruptcy as soon as March, according to Bloomberg, and Tops could seek protection from creditors by the end of this month.
Bi-Lo plans to shut about 200 stores, according to a Bloomberg source. The company has declared bankruptcy and restructured twice before in 2005 and 2009. Bloomberg reported that Bi-Lo has more than $1 billion in debt. The company, owned by Southeastern Grocers, has stores in North Carolina, South Carolina and Georgia.