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Secures Interim Approval to Access Debtor-in-Possession Financing Reiterates Commitment to Continue Providing Customers with Unmistakable Value and Extreme Bargains COLUMBUS, Ohio , Sept. 11, 2024 /PRNewswire/ -- Big Lots, Inc. (NYSE: BIG) (the "Company") today announced that it received interim Court approval for certain "first day" motions related to the Company's voluntary Chapter 11 proceedings.
As Big Lots embarks on a Chapter 11 restructuring and prepares for acquisition by Nexus Capital Management, retail analysts are evaluating the company's future amid a challenging market. They note this bankruptcy filing not only signals deep-rooted issues in Big Lots' business model, but also underscores the economic pressures confronting it.
Discount retailer Big Lots Inc. has filed for bankruptcy protection and plans to sell the business to Nexus Capital. But Bloomberg's Eliza Ronalds-Hannon says this could wind up being a positive story.
Big Lots filed for bankruptcy, citing stubborn inflation, high interest rates and a slowdown in consumer spending on home goods like new furniture and decor. Private equity firm Nexus Capital Management has agreed to buy Big Lots for $760 million, consisting of $2.5 million in cash plus its remaining debt.
Discount retailer Big Lots has declared bankruptcy and sold itself to an investment firm. The company announced Monday (Sept.
The discount retailer has secured commitments for $707.5 million of financing as it works through a court-supervised auction process.
U.S. discount home goods retailer Big Lots said on Monday it has secured $707.5 million to support its operations and sell its business to private equity firm Nexus Capital, as it has initiated bankruptcy proceedings under Chapter 11.
Company to Report Results on September 12 COLUMBUS, Ohio , Sept. 6, 2024 /PRNewswire/ -- Big Lots, Inc. (NYSE: BIG) today announced it has postponed the release of its financial results for the second quarter of fiscal 2024 ended August 3, which had previously been scheduled for September 6.
Big Lots, Inc. BIG is set to release earnings results for its second quarter, before the opening bell on Friday, Sept. 6.
Discount retailer Big Lots is considering filing for bankruptcy as it faces declining sales, according to a report citing people familiar with the situation.