Big Lots ( (BIGGQ) ) just unveiled an announcement.
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Big Lots, Inc. announced a strategic sale with Gordon Brothers Retail Partners to transfer assets, including stores and intellectual property, to other retailers like Variety Wholesalers. Variety Wholesalers plans to acquire between 200 and 400 stores and operate them under the Big Lots brand. This agreement aims to preserve jobs and maintain the Big Lots brand’s continuity, pending bankruptcy court approval. The previous agreement with Nexus Capital Management was terminated, leading Big Lots to commence going out of business sales at remaining stores to protect its estate value.
More about Big Lots
Big Lots, Inc. is one of the largest closeout retailers in the United States, focusing on delivering extreme value to customers with a range of products including furniture, décor, and pantry items. The company emphasizes sourcing through closeouts, liquidations, overstocks, private labels, and value-engineered products and is committed to philanthropy through the Big Lots Foundation.
YTD Price Performance: -99.28%
Average Trading Volume: 490,774
Technical Sentiment Consensus Rating: Buy
Current Market Cap: $1.69M
Learn more about BIGGQ stock on TipRanks’ Stock Analysis page.
