Big Lots reaches deal to keep hundreds of its stores open amid bankruptcy
1 week, 1 day ago

Big Lots reaches deal to keep hundreds of its stores open amid bankruptcy

Hindustan Times  

Big Lots has reached a deal to keep hundreds of its stores open amid its bankruptcy process. FILE - A shopper leaves the Big Lots store on Dec. 4, 2012 in Berlin, Vt. Big Lots reaches deal to save hundreds of stores amid bankruptcy Friday's transaction with the Boston-based asset liquidation firm would result in the transfer of 200 to 400 Big Lots stores to Variety Wholesalers, Inc. Variety Wholesalers, which owns more than 400 stores in the Mid-Atlantic and Southeast, plans to operate the recently acquired stores under the Big Lots brand. Meanwhile, Variety Wholesalers’ president and CEO Lisa Seigies said in a statement, “We are excited to partner with Gordon Brothers to provide a path forward for the Big Lots brand and hundreds of its stores.

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History of this topic

Big Lots wins approval of rescue deal after creditor backlash
1 week, 1 day ago

Big Lots wins approval of rescue deal after creditor backlash

LA Times  

A former Big Lots store in Poway, Calif. Bankrupt retailer Big Lots Inc. won court approval of a rescue deal to save some of its stores from shutting down despite challenges from vendors that claimed the deal unfairly saddles them with steep losses. Judge J. Kate Stickles said late Tuesday she’d approve a sale of the retailer to Gordon Brothers …

Big Lots reaches deal to keep hundreds of US stores open
1 week, 4 days ago

Big Lots reaches deal to keep hundreds of US stores open

Associated Press  

The discount chain Big Lots, which filed for bankruptcy protection in September, has reached a deal that will keep hundreds of its stores and distribution centers open. Big Lots said Friday it will be sold to Gordon Brothers Retail Partners, a firm that specializes in distressed companies. Gordon Brothers will then transfer Big Lots’ stores, distribution centers and other assets …

Big Lots Strikes Deal to Save Stores, Stop Brand From Closing
1 week, 5 days ago

Big Lots Strikes Deal to Save Stores, Stop Brand From Closing

Live Mint  

-- Bankrupt Big Lots Inc. has struck a deal to save hundreds of stores after an earlier sale of the business fell apart, saving the chain from closing down entirely. The company said Friday it has agreed to a transaction with Gordon Brothers Retail Partners LLC that will facilitate the transfer of Big Lots’ brand, stores and distribution centers to …

Is Big Lots closing? Company announces 'going out of business' sales at all stores
2 weeks, 5 days ago

Is Big Lots closing? Company announces 'going out of business' sales at all stores

Hindustan Times  

Big Lots is out of business. FILE - A shopper leaves the Big Lots store on Dec. 4, 2012 in Berlin, Vt. Big Lots announces ‘going out of business’ sales “The Company is preparing to commence going out of business sales at all remaining Big Lots store locations in the coming days to protect the value of its estate,” Big …

Big Lots conducts going-out-of-business sales after sale of company falls through
2 weeks, 5 days ago

Big Lots conducts going-out-of-business sales after sale of company falls through

Associated Press  

NEW YORK — Discount chain Big Lots is conducting going-out-of-business sales at its remaining locations after a sale of the company didn’t materialize. The Columbus, Ohio-based retailer, which sells furniture, home decor and other items, filed for Chapter 11 bankruptcy protection in early September and said private equity firm Nexus Capital Management LP had agreed to acquire “substantially all of …

See the full list of Big Lots stores as discount retailer reveals closures and 'going out of business' sales
2 weeks, 5 days ago

See the full list of Big Lots stores as discount retailer reveals closures and 'going out of business' sales

Daily Mail  

Big Lot has announced a full list of all its stores which are set to close down. More than 400 Big Lots stores have already closed this year, marking a 30 percent decrease in its footprint. Big Lots full list of store closures Alabama - 23 stores Arizona - nine stores Arkansas - nine stores California - 22 stores Colorado …

Big Lots says it is having going-out-of-business sales as it seeks a new buyer
2 weeks, 6 days ago

Big Lots says it is having going-out-of-business sales as it seeks a new buyer

NPR  

Big Lots says it is having going-out-of-business sales as it seeks a new buyer toggle caption Toby Talbot/AP National retailer Big Lots says it will begin holding going-out-of-business sales at its remaining stores because it still has not found a buyer to boost it from bankruptcy. Sponsor Message Big Lots said its goal is to complete a transaction by early …

Big Lots sale to Nexus falls apart, raising likelihood business will close
3 weeks ago

Big Lots sale to Nexus falls apart, raising likelihood business will close

LA Times  

Bankrupt retailer Big Lots Inc. no longer anticipates it can complete its asset sale to private equity firm Nexus Capital Management and will beginning selling its stores in coming days to protect the value of its real estate. “We all have worked extremely hard and have taken every step to complete a going concern sale,” said Bruce Thorn, Big Lots’ …

US retailers have shut 7,300 stores so far this year, up nearly 60% from 2023
3 weeks, 2 days ago

US retailers have shut 7,300 stores so far this year, up nearly 60% from 2023

Daily Mail  

US retailers have closed 7,308 stores so far this year in what has been dubbed a 'retail bloodbath.' In the week ending December 13 129 stores were closed across the country, including 41 Family Dollar locations, 20 Dollar Generals and eight Dollar Trees. Family Dollar, which operates under the Dollar Tree brand, has closed the most stores in the last …

Discount retailer is shutting 500 of its 1,400 stores: Here's the full list
2 months, 3 weeks ago

Discount retailer is shutting 500 of its 1,400 stores: Here's the full list

Daily Mail  

Big Lots has announced details of another 208 stores it plans to shut as it battles bankruptcy. Big Lots store in Dennis Port, Massachusetts, on Cape Cod, is shutting soon, and has up to 50 percent off in its clearance sale Retail experts say Big Lots main problem is that it markets itself as a place for bargains, but it …

Big Lots files for Chapter 11 bankruptcy, Nexus Capital to acquire stores
3 months, 4 weeks ago

Big Lots files for Chapter 11 bankruptcy, Nexus Capital to acquire stores

Hindustan Times  

Big Lots has officially filed for Chapter 11 bankruptcy, citing “substantial doubt” about its ability to continue operating. Photographer: Eric Thayer/Bloomberg The retail chain giant announced that Nexus Capital Management, a private equity firm, will acquire “substantially all” of the company’s stores and business operations. Bruce Thorn, CEO of Big Lots, expressed, “The actions we are taking today will enable …

Big Lots files for bankruptcy amid significant store closures
4 months ago

Big Lots files for bankruptcy amid significant store closures

LA Times  

After announcing the closure of more than 50 stores in California, the discount retailer Big Lots has filed for Chapter 11 bankruptcy and will be purchased by a private equity firm. “Though the majority of our store locations are profitable, we intend to move forward with a more focused footprint,” Big Lots President and Chief Executive Bruce Thorn said in …

Major US discount retailer to close as many as 315 stores as retail apocalypse gathers pace
5 months ago

Major US discount retailer to close as many as 315 stores as retail apocalypse gathers pace

Daily Mail  

Big Lots is closing up to 315 stores across multiple states as it suffers from growing financial woes. Big Lots is the latest to shutter stores this year, with the US on course to lose nearly 8,000 physical locations by the end of 2024. The discount homeware chain has identified scores of locations across several states which are due to …

More than 50 Big Lots stores to close in California
5 months, 1 week ago

More than 50 Big Lots stores to close in California

LA Times  

Big Lots, the discount retail chain known for carrying a wide assortment of goods, is closing more than 50 stores in California. Big Lots, the discount retail chain known for carrying a wide assortment of goods, is closing more than 50 stores in California amid flagging sales that have thrown the chain’s future into question. “We missed our sales goals …

Big Lots is set to close up to 40 stores as future of retailer is in doubt
5 months, 2 weeks ago

Big Lots is set to close up to 40 stores as future of retailer is in doubt

The Independent  

The latest headlines from our reporters across the US sent straight to your inbox each weekday Your briefing on the latest headlines from across the US Your briefing on the latest headlines from across the US SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy Discount retailer Big Lots …

Big chains filed for bankruptcy and closed stores every week in July
4 years, 5 months ago

Big chains filed for bankruptcy and closed stores every week in July

CNN  

New York CNN Business — Coronavirus, massive amounts of debt and a shift in shopping habits created a lethal cocktail of bankruptcies and store closures in July. Justin Sullivan/Getty Images The once-trendy denim company filed for bankruptcy on July 3, explaining in a press release that the pandemic has “severely impacted sales across all channels.” Lucky Brand will immediately close …

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