Columbia, SC (WLTX) - Bi-Lo says its shutting down 94 grocery stores, including several Harvey stores in the Midlands, as it restructures itself financially.
Southeastern Grocers, the parent company of the chains, announced the move Thursday.
It's all part of a plan to get the company on better financial footing. It includes voluntarily filing Chapter 11 cases so that it can restructure. Overall, it's expected to reduce the company's debt by $500 million.
"The agreement we announced today is an important step in Southeastern Grocers' transformation to put our company in hte best position to succeed in the extremely competitive retail market in which we do business," said Southeastern Grocers SEO Anthony Hucker.
The company says they'll now be able to invest more into their other stores and to create new locations.
To make the move, the company is shuttering several of its Harvey brand stores and one Bi-Lo location that operate in the Midlands. Here is the list of affected stores:
Bi-Lo - 615 Harry C Raysor Drive - St. Matthews
Harveys - 3315 B Broad River Road - Columbia
Harveys - 2230 Decker Boulevard - Columbia
Harveys - 3900 B. North Main Street - Columbia
Harveys - 1937 Wilson Road - Newberry
The company did not give an exact date for when the stores would close. All of the other 582 locations wil continue to operate as normal.