Big Lots approved for last-minute sale of 200 to 400 stores By Reuters
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Jan 01 2025
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Should l Buy ?
Source: Investing.com
Bankruptcy Sale Approval: Big Lots received court approval for a last-minute sale that will allow 200 to 400 stores to remain open under new ownership, preserving 5,000 to 10,000 jobs after filing for bankruptcy in September.
Vendor Concerns: The scaled-back sale will not fully repay vendors owed $250 million, leading to objections from companies like Tempur Sealy and Serta Simmons, who claim Big Lots continued ordering inventory despite knowing it could not pay.
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About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
