News Formal

Big Lots Prepares for 'Going Out of Business' Sales After Sale Falls Through

  • 📰 WTVYNews4
  • ⏱ Reading Time:
  • 21 sec. here
  • 7 min. at publisher
  • 📊 Quality Score:
  • News: 29%
  • Publisher: 51%

Retail News

Big Lots,Going Out Of Business,Retailer

Big Lots, the discount retailer, is preparing for a potential closure after its planned sale to Nexus Capital Management collapsed. The company announced it will initiate 'going out of business' sales at its remaining stores while continuing negotiations with Nexus or other parties to find an alternative solution.

Big Lots is preparing to go out of business. On Thursday, the retailer announced that its anticipated sale to Nexus Capital Management fell through. In response, Big Lots said it is preparing to host “going out of business” sales at all remaining stores. However, Big Lots said it remains hopeful and is continuing to work toward “completing an alternative going concern transaction with Nexus or another party.

”\“While we remain hopeful that we can close an alternative going concern transaction, in order to protect the value of the Big Lots estate, we have made the difficult decision to begin the GOB process,” said Bruce Thorn, Big Lots' President and Chief Executive Officer. Big Lots said it is continuing to serve customers in stores and online for now and will provide further updates as they become available

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 590. in SG
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

Singapore Singapore Latest News, Singapore Singapore Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Big Lots Prepares for 'Going Out of Business' Sales After Sale Deal Falls ThroughBig Lots announced Thursday that its anticipated sale to Nexus Capital Management has fallen through. As a result, the retailer is preparing to host 'going out of business' sales at all remaining stores. However, Big Lots remains hopeful and is continuing to work towards completing an alternative transaction with Nexus or another party.
Source: wsfa12news - 🏆 338. / 59 Read more »

Big Lots Prepares for 'Going Out of Business' Sales After Sale Falls ThroughBig Lots, facing the collapse of its sale to Nexus Capital Management, is preparing to shut down all its remaining stores. The company will initiate 'going out of business' sales.
Source: FOX10News - 🏆 581. / 51 Read more »