Bi-Lo LLC, the company that owns the Winn-Dixie chain of grocery stories, is approaching potential bankruptcy, according to sources familiar with the matter.
According to a report from Bloomberg, the retailer is panning to shut down almost 200 stories as part of the move.
The filing could come as soon as next month, according to Reuters.
This is a not the first time the company has faced bankruptcy. Private equity firm Lone Star Funds invested about $150 million in a buyout of Bi-Lo in 2005, and the company again filed for bankruptcy in 2009.
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Renovations were made to the Winn-Dixie location in Ocean Springs in 2017, a new hot wing bar, grab-and-go sushi and improved meat, seafood and bakery departments.
The supermarket chain has five stores and a liquor store in South Mississippi that could be possibly be affected. Stores are located on U.S. 49 in Gulfport, Cleveland Avenue in Long Beach, Pass Road in Biloxi, D’Iberville Boulevard in D’Iberville and Bienville Boulevard in Ocean Springs. The liquor store is adjacent to the Biloxi store. A sixth store operated on Pass Road in Gulfport, but closed in June of 2017.