Market
What will be Big Lots' primary strategy post-bankruptcy approval by December 31, 2025?
2
Resolution / Starting Odds
Store expansion • 25%
Online sales focus • 25%
Cost-cutting measures • 25%
Partnerships and collaborations • 25%
Official statements from Big Lots or credible business analysis reports
Story
Big Lots Strikes Deal to Keep 200 to 400 Stores Open and Save Thousands of Jobs, Pending Bankruptcy Court Approval
Dec 28, 2024, 10:08 PM
Big Lots, the discount retailer that filed for bankruptcy protection in September, has reached a deal with Gordon Brothers Retail Partners to keep hundreds of its stores open. This agreement comes after the company previously announced plans for liquidation sales. The deal is expected to preserve the brand, save between 200 and 400 stores, and protect thousands of jobs. The sale transaction allows for the transfer of Big Lots' assets to other retailers, ensuring continuity for the business. The agreement is pending approval by a bankruptcy court, but it represents a critical step in preventing the complete closure of the chain.
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Similar markets
Acquisition by another party • 25%
Complete liquidation • 25%
Partial liquidation with store retention • 25%
Acquisition by Nexus Capital Management • 25%
Remains independent • 25%
Fully owned by Gordon Brothers • 25%
Joint ownership with another retailer • 25%
Sold to a different retailer • 25%
Another private equity firm • 25%
Other entity • 25%
Retail competitor • 25%
Nexus Capital Management • 25%
Successful liquidation with full inventory clearance • 25%
Other outcome • 25%
Failed to clear significant inventory • 25%
Partial clearance with remaining inventory • 25%
Market competition • 25%
Other • 25%
Economic downturn • 25%
Poor management • 25%
Other outcome • 25%
No sale, continue liquidation • 25%
Sold to another party • 25%
Sold to Nexus Capital Management • 25%
