So when do you think Trump is going to step in

Discussion in 'Politics' started by 20_yrs_2_go, Feb 18, 2018.

  1. 20_yrs_2_go

    20_yrs_2_go Well-Known Member

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    And save the jobs ?

    Bi-Lo is laboring under more than $1 billion in debt following its 2005 buyout by Lone Star Funds. The company and its creditors have held talks to discuss a possible debt-to-equity swap, as well as alternatives such as asset sales, Bloomberg reported last year.



    Lone Star declined to comment. A representative for Bi-Lo parent companySoutheastern Grocers didn’t immediately respond to a request for comment.

    Lone Star piped in $150 million when the grocer exited Chapter 11 the first time, and invested $275 million to help fund the purchase of Winn-Dixie in 2012. But it probably will still come out ahead, having paid itself at least $800 million since 2012, along with management fees it’s collected, according to regulatory filings.

    Southeastern Grocers, based in Jacksonville, Florida, says it’s the fifth-largest supermarket chain, with more than 700 stores and 50,000 employees. It also operates the Harveys and Fresco y Mas chains.

    Bi-Lo LLC, the supermarket company that owns the Winn-Dixie chain, is preparing for a potential bankruptcy filing as soon as next month, according to people with knowledge of the matter.



    The retailer is planning to shut almost 200 stores as part of the move -- either before or after the filing -- said one of the people, who asked not to be identified because the process isn’t public. The business, which went bankrupt in previous incarnations in 2005 and 2009, may still find a way to restructure its debt out of court.


    https://www.bloomberg.com/news/arti...i-lo-is-said-to-prepare-for-bankruptcy-filing
     
  2. Northern Flash

    Northern Flash They will make you look foolish. AD-FREE USER

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    Trump won't ever step in because it's not the Govt's job to pick winners and losers. Let them fail, who cares? That's how the system works. You run your company into the ground and you go toes up, that's your problem, not the American tax payer's problem.
     

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