February 16, 2018 / 11:36 PM / a year ago

Winn-Dixie owner Bi-Lo preparing for bankruptcy filing: sources

(Reuters) - Supermarket company Bi-Lo LLC, which owns the Winn-Dixie chain, is planning to close at least 100 stores in a potential bankruptcy, two people familiar with the matter said on Friday.

One of the people said the filing could come as soon as next month.

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 news about a likely bankruptcy filing by Bi-Lo was first reported by Bloomberg, which said the company is laboring under more than $1 billion in debt following its 2005 buyout by Lone Star Funds. (bloom.bg/2o2nY0v).

Bi-Lo was not immediately available for comment.

Reporting by Tracy Rucinski in Chicago and Ankit Ajmera in Bengaluru; Editing by Arun Koyyur

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