Big Lots was ‘too expensive' — the discounter's new owner says
“The former Big Lots got too expensive and the assortment wasn't everyday,” said Lisa Seigies, chief executive of Variety Wholesalers, a discount retailer that bought Big Lots out of bankruptcy in January.
Big Lots to reopen more than 100 shuttered stores after bankruptcy filing
“We're excited to bring an additional 132 Big Lots! locations back to life in May,” said and CEO of Variety Wholesalers, which acquired more than 200 Big Lots stores.
Big Lots' Long Road Ahead: Discount Retailer Faces Challenges Despite Acquisition
Big Lots, a once-dominant player in the discount retail sector, faces an uncertain future following an acquisition by Gordon Brothers Retail Partners. The agreement, finalized Dec. 27, ensures hundreds of Big Lots stores will remain operational, as the assets of the bankrupt retailer are transferred to other entities, including Variety Wholesalers.
Half Of Big Lots Stores Could Be Saved In Variety Wholesalers Deal
Up to a half of Big Lots stores look set to be saved after it agreed to a transaction with Gordon Brothers Retail Partner that enables the transfer of Big Lots assets.
Big Lots gets green light for last-minute sale of 200 to 400 stores
US bankruptcy judge Kate Stickles rubber-stamped the sale at a court hearing in Wilmington, Delaware.
Big Lots Deal Rescues Hundreds of Stores From Closure
Big Lots has struck a deal to keep hundreds of stores from shuttering. The bankrupt discount retailer announced Friday (Dec. 27) that it had agreed to sell itself to Gordon Brothers Retail Partners, a capital markets company that will transfer Big Lots' stores, distribution centers and other assets to other retailers.
Big Lots reaches deal to keep hundreds of stores open, save jobs
The privately-owned Variety Wholesalers plans to acquire 200 to 400 Big Lot stores and operate under the Big Lots brand.
Big Lots Announces ‘Going Out Of Business Sale' As Nexus Acquisition Falls Through
The bankrupt Big Lots home goods closeout retailer just announced its planned sale to Nexus Capital Management has hit the skids so it will begin going-out-of-business sales (GOB) at its remaining 900 stores; it has already closed about 400 stores this year.
Big Lots to start holding ‘going out of business' sales at remaining locations
Big Lots said it does not anticipate closing the sale to Nexus Capital, months after initiating bankruptcy proceedings under Chapter 11.
Big Lots Says Previously Announced Sale Has Fallen Through
Big Lots said Thursday (Dec. 19) that it is preparing to begin going out of business (GOB) sales at all its remaining stores after determining that it no longer expects to complete its previously announced sale to Nexus Capital Management.
Big Lots Leans on Digital as Foundation for Bankruptcy Exit
Big Lots' Chapter 11 bankruptcy filing and upcoming acquisition by Nexus Capital Management revealed the deep-rooted issues in the company's business model, particularly its struggle to adapt to the digital age.
Big Lots CEO Outlines Key Strategies for the Retailer's Turnaround
Three days after Big Lots announced a Chapter 11 restructuring and acquisition by Nexus Capital Management, Big Lots President and CEO Bruce Thorn offered an overview of the company's performance and strategic direction during the second-quarter earnings call Thursday (Sept. 12). Second-quarter comparable sales fell 14.
