Tops Friendly Markets preparing to file for bankruptcy, Bloomberg report

Tops Friendly Markets preparing to file for bankruptcy Bloomberg report

Nearly 200 of the 500 Winn-Dixie locations are expected to be closed before or soon after the bankruptcy filing, according to the sources who spoke with Bloomberg News and asked not to be identified because the process isn't public.

Jacksonville-based grocery store chain Winn-Dixie could soon close some of its stores for good. The company has had its present name since 1955 and traces its roots back to 1925.

Bi-Lo purchased Winn Dixie in 2012 and operates locations in Alabama, Florida, Georgia, Louisiana and Mississippi.

The parent company of supermarket chain Winn-Dixie is preparing for a potential bankruptcy filing, Bloomberg reported Friday.

Bi-Lo has not publicly confirmed any bankruptcy plans. And today, many think Bi-Lo will find a way to get out from under the mess.

However, Bi-Lo continues to labor under debt of over $1 billion following its buyout in 2005 by Lone Star Funds.

There was no immediate comment on the Bloomberg report by Tops. Bi-Lo acquired Winn-Dixie in 2012.

There are now roughly 500 Winn-Dixie locations in the Southeastern part of the U.S., primarily in Florida.

Margins of supermarkets have taken a hit from growing competition from big box stores, including Wal-Mart Stores Inc (WMT.N) and online options such as Amazon.com Inc (AMZN.O).

The grocery industry has seen a major shakeup with the rise of e-commerce and Amazon's acquisition of Whole Foods.

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