Bi-Lo completes financial restructuring
GREENVILLE, S.C. Bi-Lo has successfully completed its financial restructuring and emerged from Chapter 11 bankruptcy protection, the chain said Thursday.
“Today is a great day for Bi-Lo, our teammates and our loyal customers,” said Michael Byars, Bi-Lo president and CEO. “With our financial restructuring now behind us, we are emerging from Chapter 11 with a strengthened balance sheet and enhanced financial flexibility that positions Bi-Lo for continued success in the markets in which we operate. Our lean capital structure and more focused footprint will enable us to continue putting our customers first and exceeding their expectations every time they visit our stores.”
Bi-Lo’s plan of reorganization was confirmed by the U.S. Bankruptcy Court of South Carolina on April 29 and has met all closing conditions of its plan of reorganization and plan of arrangement, the retailer said.
Coupons.com expands its retailer network
MOUNTAIN VIEW, Calif. Coupons.com has expanded its digital coupon network to more than 38,000 retail outlets, the company said Wednesday.
The announcement comes on the heels of the company’s introduction of its digital clearing services for retailers and manufacturers for digitally-redeemed coupons, including verification, redemption, payment and settlement.
“Digital coupons represent the fastest growing category of coupons, in part due to the growing number of retailers tapping them to engage with their customers,” said Steven Boal, Coupons.com CEO. “With our new retail partners, the Coupons.com network spans over 38,000 retail outlets operated by many of the nation’s top grocery, drug and mass retailers. As our distribution network grows, we expect brands—more and more—will look to digital coupons as an increasingly important part of their promotions marketing mix.”
Duane Reade to be presenting sponsor for AIDS Walk New York
NEW YORK Duane Reade will be the first-ever presenting sponsor of AIDS Walk New York on May 16 and has pledged a minimum contribution of $225,000 through the Duane Reade Charitable Foundation.
Also as part of its sponsorship, Duane Reade is selling special $1 paper red-ribbon pinups in its more than 250 New York metro-area stores through May 15 — the day before AIDS Walk New York. All of the funds raised by the ribbon sales will support GMHC and dozens of other local HIV/AIDS services organizations in the tri-state area.
It is estimated that 45,000 people will join the 25th annual AWNY, a fundraising walkathon beginning and ending in Central Park. Duane Reade’s employee group will be one of an anticipated 2,900 corporate and community fundraising teams participating.
In addition, GMHC and Duane Reade are working together on multiple efforts to raise awareness about HIV, GMHC’s work and the AIDS Walk. This includes in-store AIDS Walk registration drives and on-site free and confidential HIV testing through GMHC’s mobile testing unit.
Duane Reade became a sponsor of AWNY in 2002, and has increased its sponsorship level in subsequent years.