GREENVILLE, S.C. -- Bi-Lo will proceed with a $160 million capital spending plan while its owners pursue a sale of the company, Brian Hotarek, chief executive officer of Bi-Lo, said in a statement Wednesday. Lone Star Funds, the Dallas-based private equity firm that owns Bi-Lo, said Tuesday it will seek to sell the 230-store chain. The spending program covers investments in store renovations and technology over an 18-month period. Also on Wednesday, New York-based rating agency Standard ...
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