Market
Primary cause cited for Big Lots' bankruptcy by March 31, 2025?
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Resolution / Starting Odds
Poor management • 25%
Market competition • 25%
Economic downturn • 25%
Other • 25%
Official bankruptcy filings and reports from financial analysts
Story
Big Lots to Close All 963 Stores, Starting 'Going Out of Business' Sales After Chapter 11 Bankruptcy, Impacting 27,000 Employees
Dec 19, 2024, 06:31 PM
Big Lots, the discount retailer employing over 27,000 people, is set to begin 'going out of business' sales at all of its 963 locations after failing to secure a buyer following its Chapter 11 bankruptcy filing. The company confirmed that it will close all remaining stores, a move that comes after the collapse of a proposed sale to private equity firm Nexus Capital Management. This decision follows the closure of hundreds of stores earlier this year, resulting in a roughly 30% reduction in its retail footprint. The liquidation efforts aim to preserve the company's value during the bankruptcy process.
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Similar markets
Partnerships and collaborations • 25%
Store expansion • 25%
Online sales focus • 25%
Cost-cutting measures • 25%
Operational inefficiencies • 25%
Competition in retail sector • 25%
Other • 25%
Economic conditions • 25%
Rejected • 25%
Delayed decision • 25%
Approved without conditions • 25%
Approved with conditions • 25%
Acquisition by another party • 25%
Acquisition by Nexus Capital Management • 25%
Complete liquidation • 25%
Partial liquidation with store retention • 25%
Minor impact on discount retail • 25%
Significant impact on discount retail • 25%
No discernible impact • 25%
Other impact • 25%
Partial clearance with remaining inventory • 25%
Other outcome • 25%
Failed to clear significant inventory • 25%
Successful liquidation with full inventory clearance • 25%