The Investment Whisperer
  • Business
  • Politics
  • Investing
  • World
  • Business
  • Politics
  • Investing
  • World

The Investment Whisperer

Business

Big Lots initiates going-out-of-business sales at remaining locations

by admin December 21, 2024
December 21, 2024
Big Lots initiates going-out-of-business sales at remaining locations

Troubled discount furniture and home decor retailer Big Lots will initiate going-out-business sales at its remaining locations after a deal to find a purchaser fell through.

Big Lots said in a release Thursday that it no longer anticipates being able to complete a previously announced agreement with a private equity group to salvage the company.

However, it said, it continues to work toward completing an alternative transaction with the group, Los Angeles-based Nexus Capital Management, or another party.

In September, Big Lots filed for Chapter 11 bankruptcy reorganization after having suffered continuous losses. The Columbus, Ohio-based firm has announced hundreds of store closings this year.

The brick-and-mortar retail landscape in general took another series of blows in 2024, with 49 retail bankruptcies (including those of automobile dealers and direct-to-consumer brands) in the United States, compared with 25 retail bankruptcies tracked in 2023, according to data from Coresight Research, a consumer insights group.

Coresight has confirmed more than 7,300 store closings this year, led by Family Dollar, with 718, followed by CVS, with 586, and Big Lots, with 580.

That compares with 4,627 store closings across the retail industry by this time last year, Coresight said.

This post appeared first on NBC NEWS

0
FacebookTwitterGoogle +Pinterest
previous post
Trump transfers all his DJT shares to his revocable trust, SEC filings show
next post
Top 5 Canadian Mining Stocks This Week: Omineca Jumps 67 Percent

Related Posts

Boeing to resume airplane deliveries to China next...

May 30, 2025

Mike Tyson, Jake Paul fight was the most...

November 21, 2024

Key fed inflation gauge cools to its slowest...

June 29, 2024

Sports bar chain Twin Peaks is going public....

February 1, 2025

Southwest cuts growth plans, warning effect of Boeing...

April 27, 2024

Red Lobster cleared to exit Chapter 11 bankruptcy

September 6, 2024

Alaska Airlines and United Airlines returning Boeing 737...

January 30, 2024

Data center boom in world’s largest market isn’t...

May 3, 2025

Amazon plans to launch discount store in bid...

June 28, 2024

Nvidia CEO Jensen Huang warns China is ‘not...

May 1, 2025

    Stay updated with the latest news, exclusive offers, and special promotions. Sign up now and be the first to know! As a member, you'll receive curated content, insider tips, and invitations to exclusive events. Don't miss out on being part of something special.


    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Categories

    • Business (1,432)
    • Investing (3,523)
    • Politics (4,756)
    • World (4,659)
    • About us
    • Contact us
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: TheInvestmentWhisperer.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2024 TheInvestmentWhisperer.com | All Rights Reserved