Plan In Hand, Bi-Lo Eyes Ch. 11 Exit In May

Law360, New York (April 30, 2010, 5:23 PM EDT) -- The judge overseeing Bi-Lo LLC's bankruptcy proceedings has confirmed the supermarket chain's reorganization plan — under which Bi-Lo will get a $150 million new equity investment from its owner, private equity firm Lone Star Funds — clearing the way for the company to emerge from Chapter 11 in May.

Judge Helen E. Burris of the U.S. Bankruptcy Court for the District of South Carolina signed off on an order confirming the debtors' fourth amended Chapter 11 plan Thursday.

Along with the $150 million Lone Star investment,...
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