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What will be the fate of Big Lots' headquarters in Ohio by December 31, 2025?
3
Resolution / Starting Odds
Sold to another company • 25%
Repurposed for different use • 25%
Demolished • 25%
Remains unsold and vacant • 25%
Official announcements from Big Lots or major news outlets reporting on the future of the headquarters
Story
Big Lots to Close All 963 Stores After September Bankruptcy, Impacting Nearly 30,000 Employees and 555 Layoffs
Dec 20, 2024, 06:32 PM
Big Lots, the discount retailer, is set to close all 963 of its locations following the failure to secure a buyer after filing for Chapter 11 bankruptcy in September 2024. The company, which employs nearly 30,000 individuals, has already shuttered over 400 stores this year, representing a roughly 30% reduction in its footprint. The planned sale to private equity firm Nexus Capital Management has been abandoned, prompting the company to initiate liquidation sales at its remaining stores. In a recent press release, Big Lots stated that the liquidation sales are intended to protect the value of its estate and will not interfere with ongoing transactions. The announcement of store closures has also led to job cuts, with layoffs reportedly reaching 555 at the company's headquarters in Ohio. This development reflects broader challenges in the retail sector, where other chains are also facing closures amid changing consumer behaviors and economic pressures.
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Repurposed for non-retail use • 25%
Remains vacant • 25%
Sold to another company • 25%
Other outcome • 25%
Majority retained by new owner • 25%
Majority laid off • 25%
Other outcome • 25%
Majority transition to new roles • 25%
Sold to another party • 25%
Sold to Nexus Capital Management • 25%
Other outcome • 25%
No sale, continue liquidation • 25%
Brand is rebranded • 25%
Brand remains unchanged • 25%
Brand is dissolved • 25%
Brand continues under new ownership • 25%
Partial liquidation with store retention • 25%
Complete liquidation • 25%
Acquisition by Nexus Capital Management • 25%
Acquisition by another party • 25%
Unclear outcome • 25%
Majority retained • 25%
Majority laid off • 25%
Equal retention and layoffs • 25%
350-400 stores • 25%
200-249 stores • 25%
250-299 stores • 25%
300-349 stores • 25%
Failed to clear significant inventory • 25%
Other outcome • 25%
Successful liquidation with full inventory clearance • 25%
Partial clearance with remaining inventory • 25%
Joint ownership with another retailer • 25%
Remains independent • 25%
Sold to a different retailer • 25%
Fully owned by Gordon Brothers • 25%