Big Lots Files for Bankruptcy: CEO Promises 'Extreme Bargains' Will Continue, but What Will Happen to the Stores? [Yahoo! Finance]
Big Lots, Inc. (BIG)
Last big lots, inc. earnings: 2/27 04:05 pm
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Source: Yahoo! Finance
Major discount chain Big Lots has announced it is filing for Chapter 11 bankruptcy. In a statement shared with PEOPLE, on Monday, Sept. 9, the retailer confirmed it has entered into an agreement with Nexus Capital Management in which the private equity firm “has agreed to acquire substantially all” of Big Lots' “assets and ongoing business operations.” Big Lots said that the current economy coupled with customers' changing spending habits were the driving force of its bankruptcy filing: “Like many other retail businesses, the Company has been adversely affected by recent macroeconomic factors such as high inflation and interest rates [to combat inflation] that are beyond its control." Never miss a story — sign up for PEOPLE's free daily newsletter to stay up-to-date on the best of what PEOPLE has to offer, from celebrity news to compelling human interest stories. Paul Weaver/SOPA Images/LightRocket via Getty "The prevailing economic trends have been particularly challenging
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BIG
News
- Buyer could acquire Big Lots in $760M deal; set to close 4 area stores [Yahoo! Finance]Yahoo! Finance
- Private Equity Investors Line Up Deals For Big Lots And LL Flooring [Forbes]Forbes
- ‘Tadpole water' is the latest TikTok wellness trend. Does it work? [Yahoo! Finance]Yahoo! Finance
- Big Lots Chapter 11 Could Mean Growth Opportunity For Ollie's Bargain Outlet, Analyst Says [Yahoo! Finance]Yahoo! Finance
- Why frequent flyer programs are so profitable, Apple dives into AI, ‘forever chemicals': Catch up on the day's stories [CNN]CNN
BIG
Earnings
- 6/6/24 - Miss
BIG
Sec Filings
- 9/10/24 - Form 25-NSE
- BIG's page on the SEC website