business news in context, analysis with attitude

• The Greenville News reports that “Bi-Lo is expected soon to complete a five-year business plan that company officials say will be the foundation for the Mauldin-based grocer's emergence from bankruptcy as a new or rejuvenated company. The company disclosed in court filings that ‘preliminary discussions’ have begun with potential buyers or investors and ‘high-level discussions’ are underway with lenders regarding exit financing.”

According to those filings, “company officials said their options include retention of all or part of the grocer's business, a merger or consolidation, and a sale or distribution of its operations to a creditor or other interested party,” according to the News. However, company executives aren’t discussing which option is most likely to be chosen.

Bi-Lo went into bankruptcy protection on March 23, and is looking at a September 21 deadline for coming up with a reorganization plan.

• Barnes & Noble reportedly plans to open its own e-bookstore, offering some 700,000 titles that can be read on a variety of devices, including the iPhone. The decision puts Barnes & Noble directly in competition with and its Kindle e-reader.
KC's View: