Retail alert: Major supermarket chain reportedly plans to close 200 stores

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Retail alert: Major supermarket chain reportedly plans to close 200 stores
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Some midsize supermarket chains are struggling to survive as they cut prices to keep up with the competition.

In the past year alone, Amazon purchased Whole Foods, Lidl entered the U.S., Aldi announced expansion plans and stores like Walmart and Kroger aggressively cut prices.

Here are just a few of the headlines we’ve been following at Clark.com:

Now, Bloomberg reports that Bi-Lo LLC, the owner of the Winn-Dixie chain, is preparing to possibly file for bankruptcy as early as March and close as many as 200 stores.

Meanwhile, Reuters puts the number at around 100 stores, according to sources familiar with the matter.

Winn-Dixie

According to Bloomberg, Bi-Lo is laboring under more than $1 billion in debt following its 2005 buyout by Lone Star Funds. Read more here.

Winn-Dixie currently operates in five states: Alabama, Florida, Georgia, Louisiana and Mississippi.

RELATED: Clark’s top 5 retailers to watch in 2018

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Michael Timmermann paid off his mortgage in two years. Now, he shares his money-saving tips on his blog, Save on Almost Everything.
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