Market
What will be cited as primary factor for Big Lots' failure to secure a buyer?
2
Resolution / Starting Odds
Economic conditions • 25%
Operational inefficiencies • 25%
Competition in retail sector • 25%
Other • 25%
Official statements from Big Lots or major financial news reports
Story
Big Lots to Close All 963 Stores, Impacting Nearly 30,000 Employees, After Failed Sale
Dec 19, 2024, 09:00 PM
Big Lots, the Ohio-based discount furniture and home decor retailer employing nearly 30,000 people, has announced plans to close all of its remaining 963 locations. The company is preparing to hold 'going out of business' sales at all stores after filing for Chapter 11 bankruptcy protection and failing to secure a buyer, including a previously planned sale to private equity firm Nexus Capital Management. Earlier this year, Big Lots had already closed more than 400 stores, marking a roughly 30% reduction in its footprint. The closures come as the company seeks to protect the value of its estate while working through bankruptcy proceedings.
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Similar markets
Poor management • 25%
Market competition • 25%
Other • 25%
Economic downturn • 25%
Another private equity firm • 25%
Other entity • 25%
Retail competitor • 25%
Nexus Capital Management • 25%
Other outcome • 25%
No sale, continue liquidation • 25%
Sold to another party • 25%
Sold to Nexus Capital Management • 25%
Partial clearance with remaining inventory • 25%
Other outcome • 25%
Successful liquidation with full inventory clearance • 25%
Failed to clear significant inventory • 25%
Complete liquidation • 25%
Acquisition by another party • 25%
Acquisition by Nexus Capital Management • 25%
Partial liquidation with store retention • 25%
Partnerships and collaborations • 25%
Online sales focus • 25%
Store expansion • 25%
Cost-cutting measures • 25%
Other • 25%
Poor management • 25%
Competition • 25%
High debt levels • 25%
Significant impact on discount retail • 25%
Minor impact on discount retail • 25%
No discernible impact • 25%
Other impact • 25%
Brand remains unchanged • 25%
Brand continues under new ownership • 25%
Brand is rebranded • 25%
Brand is dissolved • 25%
Dollar General • 25%
Other • 25%
Target • 25%
Walmart • 25%
Other • 25%
Poor management decisions • 25%
Market competition • 25%
High debt levels • 25%