Big Lots

Big Lots, the discount retail chain that filed for bankruptcy in September, has announced a critical agreement to preserve hundreds of stores and safeguard jobs. The deal involves a partnership with Gordon Brothers Retail Partners, which will oversee the transfer of the company’s brand, stores, and distribution centres to other retailers. The Ohio-based retailer had…

Discount retailer, Big Lots has filed for Chapter 11 bankruptcy amid ongoing financial struggles, becoming the latest casualty of shifting consumer behaviour and rising inflation. As part of the restructuring, private equity firm Nexus Capital Management will acquire most of Big Lots’ stores and operations, allowing the company to continue trading while reorganizing. In a…