GREENVILLE, S.C. — Beset by falling sales and reluctant lenders, Bi-Lo LLC filed for protection under Chapter 11 of the U.S. Bankruptcy Code last week. The petition comes only weeks after Bi-Lo's former sister chain, Bruno's Supermarkets, filed its own Chapter 11 petition. Both chains are owned by Lone Star Holdings, a Dallas-based private equity firm, which acquired them together from Ahold in 2005. Bi-Lo, which operates 215 stores in four Southern states, named a new chief executive ...
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