News Formal

Big Lots files for bankruptcy, announces sale to investment firm

  • 📰 FOX10Phoenix
  • ⏱ Reading Time:
  • 9 sec. here
  • 6 min. at publisher
  • 📊 Quality Score:
  • News: 21%
  • Publisher: 68%

Business Nyheter

News,Us,Us

Big Lots previously expressed 'substantial doubt' about its ability to continue operating.

Big Lots, the discount retailer that previously expressed "substantial doubt" about its ability to continue operating, has filed for bankruptcy. The retailer said on Monday that it has initiated bankruptcy proceedings under Chapter 11, and that private equity firm Nexus Capital will "acquire substantially all of the Company’s assets and ongoing business operations.

" As a result, Big Lots says consumers are spending less on home and seasonal products, which is a "significant portion of the Company's revenue.

 

Tack för din kommentar. Din kommentar kommer att publiceras efter att ha granskats.
Vi har sammanfattat den här nyheten så att du kan läsa den snabbt. Om du är intresserad av nyheterna kan du läsa hela texten här. Läs mer:

 /  🏆 83. in SE

Sverige Senaste nytt, Sverige Rubriker

Similar News:Du kan också läsa nyheter som liknar den här som vi har samlat in från andra nyhetskällor.

Big Lots is closing hundreds of stores after warning it could go out of businessBig Lots is closing more than 300 locations across the United States, or roughly 4% of its stores, following an earlier warning that its future was in 'substantial doubt' amid ongoing financial troubles.
Källa: KSLcom - 🏆 549. / 51 Läs mer »