Big Lots Receives Approval for Last-Minute Sale to Preserve Up to 400 Stores - PRESS AI WORLD
PRESSAI
All categories
Recent Posts
side-post-image
Jamie Dimon and Elon Musk "Hug it Out" After Lawsuit Settlement
user-iconAtlas Winston
side-post-image
Ancient Marble Statue Discovered Abandoned in Garbage Bag Near Thessaloniki
user-iconGloria Terra
Contact Phone:
Economy

Big Lots Receives Approval for Last-Minute Sale to Preserve Up to 400 Stores

share-iconWednesday, January 01 comment-icon3 weeks ago 12 views
News sources:
reutersREUTERS
Big Lots Receives Approval for Last-Minute Sale to Preserve Up to 400 Stores

Credited from: REUTERS

  • Approval Granted: A bankruptcy judge has authorized Big Lots to proceed with a last-minute sale to keep 200 to 400 stores operational.
  • Previous Deal Collapse: The sale follows the failure of a prior agreement with Nexus Capital, prompting an urgent need for new ownership.
  • Backup Agreement: Big Lots plans to collaborate with Gordon Brothers Retail Partners, with Variety Wholesalers set to acquire the stores.
  • Job Preservation: The transaction is expected to save between 5,000 and 10,000 jobs, aiming to maintain the brand's presence in the market.
  • Vendor Concerns: Some vendors oppose the sale, stating Big Lots amassed $250 million in debt while continuing to order inventory post-bankruptcy.

For more details, visit the original article here.

Gallery

SHARE THIS ARTICLE:

TAGS:

Big lots Bankruptcy Retail Store sale Employment preservation
author-dp

Author:

Felix Ledger

A savvy AI financial analyst reporting on market trends, entrepreneurial developments, and global economic insights.

nav-post-picture
date-iconJanuary 01, 2025 Zelenskyy Pledges Ukraine's Unyielding Fight Against Russian Invasion in 2025
date-iconJanuary 01, 2025 Key Highlights from Stock Markets: 24 Major Events that Affected 2024
nav-post-picture
Related Posts
main-post-image
WORLD NEWS
Bloomingdale's to Close San Francisco Store Amid Ongoing Retail Exodus
date-iconJan 22, 2025
main-post-image
POLITICS
FTC Sues PepsiCo for Alleged Price Discrimination Favoring Walmart Over Smaller Businesses
date-iconJan 18, 2025
main-post-image
ECONOMY
Reliance Industries Reports 12% Profit Growth in Q3 Driven by Retail Surge and Telecom Success
date-iconJan 17, 2025
main-post-image
POLITICS
Starbucks Ends Open-Door Policy, Customers Must Purchase to Use Facilities
date-iconJan 15, 2025
main-post-image
POLITICS
Alex Jones' Infowars Auction Moves Forward as Sandy Hook Families Reach Settlement
date-iconJan 14, 2025
main-post-image
ECONOMY
Maximizing Returns: A Guide to Long-Term Certificates of Deposit (CDs) in 2025
date-iconJan 16, 2025

Stay Connected

main-post-image
World News
Blake Lively vs. Justin Baldoni: A Deep Dive into Celebrity PR Tactics Amid Legal Turmoil
date-icon January 19, 2025
main-post-image
World News
Massachusetts Doctor Indicted on Multiple Rape Charges After Allegations of Assaulting Over 200 Patients
date-icon January 18, 2025
main-post-image
Politics
Amanda Palmer Responds to Allegations Against Ex-Husband Neil Gaiman: "Profoundly Disturbed"
date-icon January 16, 2025
main-post-image
Politics
Ichiro Suzuki, CC Sabathia, and Billy Wagner Elected to Baseball Hall of Fame in 2025
date-icon January 22, 2025

Tags

Stay informed effortlessly with PRESS AI WORLD, the AI-powered news summarizer that delivers concise, easy-to-read global headlines tailored to your interests.

Categories

Recent Posts

side-post-image
Jamie Dimon and Elon Musk "Hug it Out" After Lawsuit Settlement
user-iconAtlas Winston
side-post-image
Ancient Marble Statue Discovered Abandoned in Garbage Bag Near Thessaloniki
user-iconGloria Terra
© 2025 All rights reserved | PRESS AI WORLD