• Economy
  • Investing
Long Distance Investing
  • Stock
  • Editor’s Pick
Economy

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

by December 20, 2024
written by December 20, 2024

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 comment
0
FacebookTwitterPinterestEmail

previous post
The industrial software market landscape: 7 key statistics going into 2025
next post
Forget Pepe Coin (PEPE), the Real Shiba Inu (SHIB) killer is priced at $0.15

You may also like

OpenAI to release web browser in challenge to...

July 10, 2025

Sports executive charged with bid-rigging in Texas arena...

July 10, 2025

Amazon extends Prime Day discounts to 4 days...

July 9, 2025

Boeing delivers most airplanes since late 2023 after...

July 9, 2025

Waymo offers teen accounts for driverless rides

July 8, 2025

Jerome Powell asks inspector general to review Fed’s...

July 15, 2025

Some Walmart garment orders from Bangladesh on hold...

July 13, 2025

Trump’s tariffs on Brazil could make your coffee...

July 11, 2025

Italian chocolate giant Ferrero to buy Kellogg’s Froot...

July 10, 2025

White House accuses Powell of mismanaging Federal Reserve,...

July 10, 2025

OpenAI to release web browser in challenge to...

July 10, 2025

Sports executive charged with bid-rigging in Texas arena...

July 10, 2025

Amazon extends Prime Day discounts to 4 days...

July 9, 2025

Boeing delivers most airplanes since late 2023 after...

July 9, 2025

Waymo offers teen accounts for driverless rides

July 8, 2025

Jerome Powell asks inspector general to review Fed’s...

July 15, 2025

Some Walmart garment orders from Bangladesh on hold...

July 13, 2025

Trump’s tariffs on Brazil could make your coffee...

July 11, 2025

Italian chocolate giant Ferrero to buy Kellogg’s Froot...

July 10, 2025

White House accuses Powell of mismanaging Federal Reserve,...

July 10, 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.

    Recent Posts

    • Jerome Powell asks inspector general to review Fed’s $2.5B renovation project

      July 15, 2025
    • Some Walmart garment orders from Bangladesh on hold due to U.S. tariff threat

      July 13, 2025
    • Trump’s tariffs on Brazil could make your coffee even more expensive

      July 11, 2025
    • White House accuses Powell of mismanaging Federal Reserve, citing headquarters renovation

      July 10, 2025

    Categories

    • Economy (788)
    • Editor's Pick (422)
    • Investing (4,555)
    • Stock (820)
    • About us
    • Contact us
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: Longdistanceinvestings.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 Longdistanceinvestings.com

    Long Distance Investing
    • Economy
    • Investing
    Long Distance Investing
    • Stock
    • Editor’s Pick