3 sources·Business

Big Lots Announces Going Out of Business Sales After Failed Acquisition Deal

Big Lots will close all locations and launch sales after an acquisition deal with Nexus Capital Management collapsed amid its ongoing bankruptcy.

67%

33%

The distribution of story sources: left-leaning (blue), center (light gray), and right-leaning (red).

Mostly Reliable

The underlying sources are generally reliable but sometimes include opinion, propaganda, or minor inaccuracies.

Balanced

The underlying sources are either a balanced mix of left and right or primarily centrist.

Subscribe to unlock this story

We really don't like cutting you off, but you've reached your monthly limit. At just $3/month or $30/year, subscriptions are how we keep this project going. Start your free 7-day trial today!

Get Started

No highlights available for this story.

Updated: Dec 19th, 2024, 7:11 PM ET

Summary

A summary of the key points of this story verified across multiple sources.

Big Lots has announced that it will initiate going-out-of-business sales at all its US stores after a deal with Nexus Capital Management to salvage the company fell through. The discount retailer, which filed for Chapter 11 bankruptcy in September, has experienced substantial financial difficulties, leading to over 580 store closures this year. The company continues to seek alternative arrangements as it grapples with mounting losses and significant stock price decline.

Perspectives

Compare opinions on this story from liberal (Left), conservative (Right) or center-leaning news organizations.

No center-leaning sources available for this story.