Two major U.S. retail grocery chains are preparing to file for bankruptcy.
Bi-Lo LLC, the company behind Jacksonville, Florida-based Winn Dixie, could file as early as March, and the owners of Tops Friendly Markets could seek court protection this month, according to a story on Bloomberg.com.
Bi-Lo also plans to shut almost 200 stores, according to the story. The company previously filed for bankruptcy in 2005 and 2009. Bi-Lo, whose parent company is Southeastern Grocers, is owned by Lone Star Funds.
Williamsville, New York-based Tops, which has about 170 stores, was purchased by Morgan Stanley Private Equity in 2007, then sold back to store management in 2013,