Big Lots Announces ‘Going Out Of Business Sale' As Nexus Acquisition Falls Through
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Big Lots has announced a going-out-of-business sale after its acquisition by Nexus Capital Management fell through. The company, which has already closed 400 stores this year, will begin sales at its remaining 900 stores.
December 20, 2024 | 4:15 pm
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Big Lots is initiating a going-out-of-business sale after its acquisition by Nexus Capital Management failed. The company will liquidate its remaining 900 stores, having already closed 400 this year.
The failure of the acquisition by Nexus Capital Management and the subsequent going-out-of-business sales indicate severe financial distress for Big Lots. This is likely to negatively impact the stock price as the company is liquidating its assets.
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