Dive Summary:

• Alabama-based grocery chain, Belle Foods LLC, filed for Chapter 11 bankruptcy protection. The company manages grocery stores under the names of Belle Foods, Piggly Wiggly and Food World Banners.
• According to the filing, Belle Foods LLC cited its older stores, new competition, the nation’s higher payroll taxes and technical issues with its accounting system as the reason for losses it couldn’t overcome.
• The company operates 57 stores in four states—Alabama, Florida, Georgia and Mississippi—and employs more than 2,850 people.
   

From the article

… Belle owes Southern Family Markets $28 million: $4 million for a loan and $24 million in a revolving line of credit. The grocer also owes C&S Wholesale Grocers $6 million: $5.1 million in accounts payable and $900,000 on a pension withdrawal liability note. Additionally, Belle has about $8 million in other accounts payable due.