Southeastern Grocer’s bill is coming due, and the Jacksonville-based company’s struggle to refinance $1 billion in debt could result in a Chapter 11 bankruptcy restructuring, according to industry analysts.

Southeastern Grocers, parent company of Bi-Lo, Harveys, Winn-Dixie and Fresco Y Mas, has reportedly hired Evercore, an investment bank, to advise it as the grocer restructures its debt.

SEG had approximately $470 million in notes due in September and another $425 million in notes due in February 2018, according to industry trade publication Grocery Headquarters. Those notes were trading near 32 cents on the dollar Friday.

SEG has been making operating changes all year: Former CEO Ian McLeod resigned in June, and was succeeded by then-chief operating officer Anthony Hucker, who served as interim CEO until his confirmation in August. McLeod had rolled out an upscaling model for some Winn-Dixies, though just a fraction of what had been planned actually happened, and the company has been shuffling the branding of some of its stores for months.

View the full story from the Jacksonville Business Journal here.