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Market
Will Big Lots emerge from Chapter 11 bankruptcy by end of 2025?
3
Resolution / Starting Odds
Yes • 50%
No • 50%
Public bankruptcy court filings and announcements from Big Lots
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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Sale to Nexus Capital Management completed • 25%
Sale to another bidder • 25%
Reorganization without sale • 25%
Liquidation • 25%
Complete liquidation • 25%
Partial liquidation with store retention • 25%
Acquisition by Nexus Capital Management • 25%
Acquisition by another party • 25%
Successful liquidation with full inventory clearance • 25%
Partial clearance with remaining inventory • 25%
Failed to clear significant inventory • 25%
Other outcome • 25%
Sold to Nexus Capital Management • 25%
Sold to another party • 25%
No sale, continue liquidation • 25%
Other outcome • 25%
Poor management • 25%
Market competition • 25%
Economic downturn • 25%
Other • 25%