Expects to emerge from bankruptcy in May
* Owner Lone Star backing re-emergence
* Lone Star bought BI-Lo in 2005 from Ahold
* BI-Lo filed for bankruptcy in March 200
LOS ANGELES, April 29 (Reuters) - Supermarket chain BI-Lo LLC [LONESB.UL] said on Thursday it expects to exit bankruptcy in May, backed by its private equity owner Lone Star Funds, after it received court confirmation for a reorganization plan.
BI-Lo, which has 207 supermarkets and over 15,000 staff, filed for bankruptcy 13 months ago, just days before two loans were due....