Private Equity Investors Line Up Deals For Big Lots And LL Flooring [Forbes]
Big Lots, Inc. (BIG)
Last big lots, inc. earnings: 2/27 04:05 pm
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Source: Forbes
Newsday via Getty Images After struggling for a number of years, Columbus, Ohio-based discount retailer Big Lots Inc. has filed for Chapter 11 bankruptcy in Delaware, but a savior is on hand. Meantime, Richmond-based LL Flooring is set for a reprieve after previously admitting defeat in its bid to find a buyer and preparing to wind-down operations. Big Lots plans to sell the firm's assets and ongoing business through a court-supervised process, according to a company release, having entered into a sale agreement with an affiliate of private equity investor Nexus Capital Management, according to the retailer's announcement. The structure of the agreement means that Nexus will serve as a so-called 'stalking horse bidder', which means that if there are no higher or improved offers from other parties, then Nexus will acquire the business. Big Lots sought court protection after suffering from years of declining same-store sales and shuttering locations around the U.S. and in its
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BIG
News
- Buyer could acquire Big Lots in $760M deal; set to close 4 area stores [Yahoo! Finance]Yahoo! Finance
- ‘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 Lots files for bankruptcy protection as it promises to keep offering 'extreme bargains' [MSNBC.com]MSNBC.com
BIG
Earnings
- 6/6/24 - Miss
BIG
Sec Filings
- 9/10/24 - Form 25-NSE
- BIG's page on the SEC website