{"id":11205,"date":"2024-12-21T11:38:58","date_gmt":"2024-12-21T11:38:58","guid":{"rendered":"https:\/\/digitaltradecenter.com\/index.php\/2024\/12\/21\/big-lots-initiates-going-out-of-business-sales-at-remaining-locations\/"},"modified":"2024-12-21T11:38:58","modified_gmt":"2024-12-21T11:38:58","slug":"big-lots-initiates-going-out-of-business-sales-at-remaining-locations","status":"publish","type":"post","link":"https:\/\/digitaltradecenter.com\/index.php\/2024\/12\/21\/big-lots-initiates-going-out-of-business-sales-at-remaining-locations\/","title":{"rendered":"Big Lots initiates going-out-of-business sales at remaining locations"},"content":{"rendered":"<p class=''>Troubled discount furniture and home decor retailer Big Lots will initiate going-out-business sales at its remaining locations after a deal to find a purchaser fell through.<\/p>\n<p class=''>Big Lots said in a release Thursday that it no longer anticipates being able to complete a previously announced agreement with a private equity group to salvage the company. <\/p>\n<div id='taboolaReadMoreBelow'><\/div>\n<p class=''>However, it said, it continues to work toward completing an alternative transaction with the group, Los Angeles-based Nexus Capital Management, or another party.<\/p>\n<p class=''>In September, Big Lots filed for Chapter 11 bankruptcy reorganization after having suffered continuous losses. The Columbus, Ohio-based firm has announced hundreds of store closings this year. <\/p>\n<p class=''>The brick-and-mortar retail landscape in general took another series of blows in 2024, with 49 retail bankruptcies (including those of automobile dealers and direct-to-consumer brands) in the United States, compared with 25 retail bankruptcies tracked in 2023, according to data from Coresight Research, a consumer insights group. <\/p>\n<p class=''>Coresight has confirmed more than 7,300 store closings this year, led by Family Dollar, with 718, followed by CVS, with 586, and Big Lots, with 580. <\/p>\n<p class='endmark'>That compares with 4,627 store closings across the retail industry by this time last year, Coresight said.<\/p>\n<\/p>\n<div>This post appeared first on NBC NEWS<\/div>\n<p><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Troubled discount furniture and home decor retailer Big Lots will initiate going-out-business sales at its remaining locations after a deal to find a purchaser fell through. Big Lots said in a release Thursday that it no longer anticipates being able to complete a previously announced agreement with a private equity group to salvage the company. <\/p>\n","protected":false},"author":1,"featured_media":11206,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[22],"tags":[],"class_list":{"0":"post-11205","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-business"},"_links":{"self":[{"href":"https:\/\/digitaltradecenter.com\/index.php\/wp-json\/wp\/v2\/posts\/11205","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/digitaltradecenter.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/digitaltradecenter.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/digitaltradecenter.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/digitaltradecenter.com\/index.php\/wp-json\/wp\/v2\/comments?post=11205"}],"version-history":[{"count":0,"href":"https:\/\/digitaltradecenter.com\/index.php\/wp-json\/wp\/v2\/posts\/11205\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/digitaltradecenter.com\/index.php\/wp-json\/wp\/v2\/media\/11206"}],"wp:attachment":[{"href":"https:\/\/digitaltradecenter.com\/index.php\/wp-json\/wp\/v2\/media?parent=11205"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/digitaltradecenter.com\/index.php\/wp-json\/wp\/v2\/categories?post=11205"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/digitaltradecenter.com\/index.php\/wp-json\/wp\/v2\/tags?post=11205"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}