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BI-LO granted bankruptcy court approval to hire standby liquidator
By Lisa Kerner
Charlotte, N.C., March 16 - BI-LO, LLC was given approval to engage Gordon Brothers Retail Partners, LLC as standby liquidator by the U.S. Bankruptcy Court for the District of South Carolina at a hearing on Tuesday, according to a spokesperson for the company.
As standby liquidator, Gordon Brothers would complete a going-out-of-business sale for BI-LO only if called upon to do so.
As previously reported, 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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