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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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Sale to Nexus Capital Management completed • 25%
Sale to another bidder • 25%
Reorganization without sale • 25%
Liquidation • 25%
Economic conditions • 25%
Operational inefficiencies • 25%
Competition in retail sector • 25%
Other • 25%
Complete liquidation • 25%
Partial liquidation with store retention • 25%
Acquisition by Nexus Capital Management • 25%
Acquisition by another party • 25%
Significant impact on discount retail • 25%
Minor impact on discount retail • 25%
No discernible impact • 25%
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Successful liquidation with full inventory clearance • 25%
Partial clearance with remaining inventory • 25%
Failed to clear significant inventory • 25%
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Sold to Nexus Capital Management • 25%
Sold to another party • 25%
No sale, continue liquidation • 25%
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Nexus Capital Management • 25%
Another private equity firm • 25%
Retail competitor • 25%
Other entity • 25%