Big Lots, Inc. Stock News

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.

Big Lots (BIG) filed for Chapter 11 bankruptcy protections and agreed to sell itself to an affiliate of private-equity firm Nexus Capital Management, following extended sales declines and several quarters of losses at the discount retailer.

Discount retailer Big Lots has declared bankruptcy and sold itself to an investment firm. The company announced Monday (Sept.

Months after Big Lots publicly announced signs of trouble, the home goods and seasonal retailer is selling its business as it starts bankruptcy proceedings.

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.

Implements Plan to Accelerate Business Optimization and Achieve Profitability in 2025 Initiates Voluntary Chapter 11 Process to Facilitate Restructuring Initiatives and Ownership Transition Company Secures Interim Financing to Support Operations Customers Will Continue to Find Unmistakable Value and Extreme Bargains In-Store and Online Q2 Results In Line With Guidance COLUMBUS, Ohio , Sept. 9, ...

Big Lots, a retailer operating around 1,400 stores and employing over 30,000 workers, has been grappling with declining sales over the past few quarters, putting pressure on its balance sheet.