More Big Lots store locations closing as company files for bankruptcy and new owner takes over [USA TODAY]
Big Lots, Inc. (BIG)
Last big lots, inc. earnings: 2/27 04:05 pm
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Source: USA TODAY
The retailer said in July it planned to close 35 to 40 stores in a Securities and Exchange Commission filing, then the number rose to 315 in another filing in August. The closures are part of a sale agreement with an affiliate of Nexus Capital Management LP, Big Lots announced in a news release Monday . The company has initiated Chapter 11 proceedings in the U.S. Bankruptcy Court for the District of Delaware as well. Closing more locations will allow the company to have a “more focused footprint” and conduct business efficiently, said Bruce Thorn , president and chief executive of Big Lots, in a news release. The company will also work on its distribution center model. "Though the majority of our store locations are profitable, we intend to move forward with a more focused footprint to ensure that we operate efficiently and are best positioned to serve our customers,” Thorn said in the news release. “To accomplish this, we intend to use the tools afforded by this process to con
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BIG
News
- BIG LOTS RECEIVES COURT APPROVAL FOR SALE TO NEXUSPR Newswire
- 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
BIG
Earnings
- 6/6/24 - Miss
BIG
Sec Filings
- 9/10/24 - Form 25-NSE
- BIG's page on the SEC website