BI-LO granted DIP loan extension; must wait to hire standby liquidator

By Lisa Kerner

Charlotte, N.C., Feb. 25 - BI-LO, LLC's request to extend the outside maturity date of its $125 million debtor-in-possession facility to May 31 from April 8 was granted, according to a Thursday filing with the U.S. Bankruptcy Court for the District of South Carolina.

The court also authorized the debtors to pay an extension fee of $100,000 fee to the administrative agent.

Bi-Lo's motion to engage Gordon Brothers Retail Partners, LLC as standby liquidator was continued until March 16.

The court authorized the debtors to reimburse Gordon Brothers up to $70,000 for out-of-pocket expenses.

BI-LO, a Greenville, S.C., supermarket operator, filed for bankruptcy on March 23, 2009. The Chapter 11 case number is 09-02140.

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