The story on the WLTX site, calls the store underperforming and gives 19 Feb as an upper bound on the closing date.
I had never been in this Food Lion, but I suspect it was an older store, which would have been up against a newer Bi Lo in the same general area. The newer Food Lion stores are actually quite nice -- I stopped at the one off the Ballentine I-26 exit the other day when I was looking for The Whale's Tail and it was very upscale.
Even after the Seven Oaks Shopping Center closing, there is still a Food Lion on Saint Andrews Road. It's on past the former Clusters of Whitehall towards I-26, in front of the discount cinema.
(Hat tip to commenter Jamie)
UPDATE 12 September 2011 -- Now open as a Big Lots!: