Sport Investors League
  • Politics
  • Stocks
  • Investing
  • Business

Sport Investors League

  • Politics
  • Stocks
  • Investing
  • Business
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
OpenAI is done with Shipmas and staring down daunting challenges for 2025
next post
Top 5 Canadian Mining Stocks This Week: Omineca Jumps 67 Percent

Related Posts

U.S. Steel CEO appeals to Trump after Biden...

January 9, 2025

Walmart to pay $10 million to settle lawsuit...

June 24, 2025

Restaurant chain Hooters files for bankruptcy protection to enable founder-led...

April 2, 2025

McDonald’s $5 value meal is coming in June...

May 17, 2024

YouTube is dominating the living room, forcing media...

June 29, 2024

Amazon reaches $2 trillion market cap for the...

June 28, 2024

European Union regulators accuse Apple of breaching the...

June 26, 2024

Wayfair to open its first large store, as...

May 18, 2024

Temu slashes U.S. ad spending, plummets in App...

April 17, 2025

Disney raises streaming prices for Hulu, Disney+ and...

August 8, 2024

    Get free access to all of the retirement secrets and income strategies from our experts! or Join The Exclusive Subscription Today And Get the Premium Articles Acess for Free


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

    Recent

    • Lagging Mid-cap ETF Hits Moment of Truth

      June 24, 2025
    • The Best Five Sectors, #24

      June 24, 2025
    • This Week’s Earnings Watch: Turnarounds and Momentum Plays

      June 24, 2025
    • AI Stocks Ignite Again—Where Smart Money is Heading Next

      June 24, 2025
    • Iran retaliates with missile attack on US base in Qatar, Pentagon reports no casualties

      June 24, 2025

    Categories

    • Business (994)
    • Investing (2,452)
    • Politics (3,047)
    • Stocks (1,091)
    • About us
    • Contact us
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: sportinvestorsleague.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 © 2025 sportinvestorsleague.com | All Rights Reserved