Apr. 2--The owners of the Bi-Lo supermarket chain will send out "bid books" to potential buyers next week as Chattanooga's biggest grocer enters the next phase of its business sale, officials said Thursday.
Bi-Lo President Dean Cohagan told managers in an internal memo that the company completed its year-end audit for 2003 in the past week and will now move ahead to identify the best buyer or buyers for the business.
The Dutch retail chain Royal Ahold announced in February it wants to sell the Bi-Lo and Bruno's supermarket chains in the Southeast this year to help pay down debt. Ahold is selling off assets to try to recover from an accounting scandal …
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