US: Bi-Lo exits Chapter 11
US regional supermarket operator Bi-Lo announced yesterday (13 May) that it has completed its financial restructuring and emerged from Chapter 11 bankruptcy protection.”Today is a great day for Bi-Lo, our team mates and our loyal customers,” said company president and CEO Michael Byars. “With our financial restructuring behind us, we are emerging from Chapter 11 with a strengthened balance sheet and enhanced financial flexibility that positions Bi-Lo for continued success in the markets in which we operate.”
Through its financial restructuring, Bi-Lo said that it has reduced its debt levels by around US$60m. The chain’s majority owner, investment vehicle Lone Star Finds, has also made an equity investment of $150m.
The company said that it has successfully negotiated adequate debt facilities, with Credit Suisse providing a $200m committed term loan facility and General Electric Capital providing a $150m revolving credit facility.
just-food is the world’s leading portal for the global pre-packaged food and retail industries. Its daily mix of breaking news, views, analysis and research serves over 100,000 food executives each month. http://www.just-food.com/
A report into self-serve checkouts written by two criminologists has concluded the technology promot...
Chinese online retailing giant, Alibaba, has opened an office in Melbourne.
Coca-Cola remains the world’s most chosen brand according to the 2016 Kantar Worldpanel Global Top 5...
A leading international health nutrition academic has dismissed any unsubstantiated claim that genet...
Vitafoods Asia, the event that shapes the food industry for optimal health through science and inno...
Nestle has confirmed it has sold its US confectionery business to Ferrero for US $2.8 billion (AUD $...
A US scientist has found that ‘starchy’ could be a humans’ ‘sixth taste’, joining the likes of salty...
In the US, food allergies trigger anaphylactic shock in someone every six minutes. Israel's SensoGe...