Southeastern Grocers LLC, which operates supermarket chains Winn-Dixie and Bi-Lo, said on Thursday it is preparing to file for bankruptcy and would shutter 94 underperforming stores, Reuters reported. “We conducted a thorough review of our strategic options,” Chief Executive Anthony Hucker said. The company said that it plans to file with the U.S. Bankruptcy Court in Delaware by the end of this month. The restructuring would reduce overall debt levels by more than $500 million and help the Jacksonville, Florida-based company invest more in its business, Southeastern said, adding that it would continue to operate 582 stores.
