KEY TAKEAWAYS Big Lots filed for Chapter 11 bankruptcy protections and agreed to sell itself to an affiliate of privateequity firm Nexus Capital Management. The filing by the home goods and furniture retailer follows extended sales declines and several quarters of losses at the discount retailer. The Ohio-based firm said Nexus will serve as the "stalking horse bidder" in a court-supervised auction process, and that the deal will close in the fourth quarter if it doesn't get better offers. Big Lots (BIG) fil ...

Discount retailer Big Lots has declared bankruptcy and sold itself to an investment firm. The company announced Monday (Sept. 9) that it had entered voluntary Chapter 11 proceedings in the U.S. Bankruptcy Court for the District of Delaware, to facilitate its sale to an affiliate of Nexus Capital Management. The retailer also indicated it will close some locations. "The actions we are taking today will enable us to move forward with new owners who believe in our business and provide financial stability, whil ...

About three months after Big Lots noted "substantial doubt about the Company's ability to continue" in a U.S. Securities & Exchange Commission (SEC) filing, the company said on Monday it has secured $707.5 million to support its operations and sell its business to private equity firm Nexus Capital. This comes as the company has initiated bankruptcy proceedings under Chapter 11. Big Lots listed its assets and liabilities in the range of $1 billion to $10 billion, according to a filing with bankruptcy court i ...

Discount home goods retailer Big Lots is preparing to file for bankruptcy as early as this Sunday and plans to sell its chain of stores through a court-supervised process, Bloomberg News reported Friday, citing people familiar with the situation. The company will remain in operation under Chapter 11 protection, the report said, and is currently in the process of securing a stalking horse bid, which means that the bid could be outdone if better offers emerge. Earlier in the day, the retailer announced the po ...

Company to Report Results on September 12 COLUMBUS, Ohio, Sept. 6, 2024 /PRNewswire/ -- Big Lots, Inc. (NYSE: BIG) today announced it has postponed the release of its financial results for the second quarter of fiscal 2024 ended August 3, which had previously been scheduled for September 6. The Company expects to report its second quarter of fiscal 2024 results on September 12, 2024. About Big Lots Big Lots is one of the nation's largest closeout retailers, focused on extreme value. The Company is dedicated ...

Big Lots, Inc. BIG is set to release earnings results for its second quarter, before the opening bell on Friday, Sept. 6. Analysts expect the Columbus, Ohio-based company to report a quarterly loss at $3.46 per share, versus a year-ago loss of $3.24 per share. Big Lots projects to report quarterly revenue of $1.04 billion for the quarter, according to data from Benzinga Pro. According to last month's Bloomberg report citing people with knowledge of the plans, Big Lots is considering filing for bankruptcy fo ...

Big Lots is reportedly weighing the possibility of filing for bankruptcy due to declining sales. The discount retailer is considering filing for bankruptcy as a potential option, Bloomberg reported late Wednesday, citing people with knowledge of the plans. A source familiar with the situation told the outlet that Big Lots is trying to dodge Chapter 11 by hunting for investors. BIG LOTS COULD POTENTIALLY CLOSE 315 STORES Bloomberg's report came about two-and-a-half months after the discount retailer flagged ...

The market expects Big Lots (BIG) to deliver a year-over-year decline in earnings on lower revenues when it reports results for the quarter ended July 2024. This widely-known consensus outlook is important in assessing the company's earnings picture, but a powerful factor that might influence its near-term stock price is how the actual results compare to these estimates. The stock might move higher if these key numbers top expectations in the upcoming earnings report, which is expected to be released on Sep ...

Key Takeaways Big Lots shares tumbled following reports the discount retailer is considering filing for bankruptcy protection in the coming weeks. The company is also looking for investments as a way to avoid filing for Chapter 11 bankruptcy, Bloomberg reported. Declining sales have hampered Big Lots' earnings and stock price. Discount retailer Big Lots (BIG) is reportedly seeking investors to avoid filing for Chapter 11 bankruptcy protections after an extended decline in sales and several quarters of losse ...

Big Lots is reportedly considering bankruptcy amid continued declines in sales. The off-price home goods retailer received a loan earlier this year to help it navigate a liquidity crunch and is now seeking investors in an attempt to avoid bankruptcy, Bloomberg reported Wednesday (Aug. 28), citing unnamed sources. No final decision has been made on any of these plans, according to the report. The retailer has seen years of sales declines, per the report. Big Lots did not immediately reply to PYMNTS' request ...