BI-LO in America yesterday announced that it has filed a voluntary petition for relief under Chapter 11 of the United States Bankruptcy Code. The company, which operates over 215 stores, blamed the deterioration in credit markets for the move, once again highlighting the notion that cash is king in today’s marketplace. “On an operational level, we are making significant progress this year and we have seen solid sales momentum and strong cash flow,” said Michael Byars, President... ...Read more »

Sweetener manufacturer Merisant has filed for Chapter 11 bankruptcy in the US as they seek to restructure their balance sheet in order to free up funds for supporting a sweetener derived from the stevia plant. The company, best known for their Equal sweetener, has come under heightened pressure in the industry as other sweeteners – particularly Tate & Lyle’s Splenda – begin to eat away at their market share. They have struggled to meet debt obligations as the financial turmoil... ...Read more »