Big Lots, Inc.

  1. January 02, 2025

    Bankruptcy News You May Have Missed Over The Holiday

    The Fifth Circuit sided with a group of lenders left out of a so-called uptier refinancing deal with mattress seller Serta Simmons, reversing a bankruptcy court's ruling in a closely watched case on liability management transactions; Purdue Pharma secured a one-month extension as its creditors and members of the Sackler family try to reach a settlement in mediation; and retail chain Big Lots reached an eleventh-hour deal to sell some of its stores and thwart a total liquidation.

  2. December 19, 2024

    Big Lots To Close All Stores After Ch. 11 Sale Falls Through

    Bankrupt discount retail chain Big Lots told a Delaware bankruptcy court Thursday that it will close its 870 remaining stores in the United States and initiate going-out-of-business sales starting Friday, after its $760 million deal for a going-concern sale to California private equity group Nexus Capital Management fell through.

  3. November 25, 2024

    Alex Jones Blasts Onion Bid, FTX Tech Deputy Avoids Prison

    Alex Jones and a backup bidder linked to his Chapter 7 are challenging the sale of his Infowars website to The Onion, alleging flaws in the auction process. A former FTX's tech deputy can avoid prison time for assisting the FTX fraud case by exposing programming flaws; attorneys who have represented Purdue Pharma can receive $21.2 million in fees for its work during summer. This is the week in bankruptcy.

  4. November 22, 2024

    Big Lots Can Close On $760M Asset Sale, Judge Says

    A Delaware bankruptcy judge Friday approved the $760 million sale of bankrupt discount retail chain Big Lots to a private equity group and told creditors they were out of time to challenge the company's Chapter 11 financing.

  5. November 21, 2024

    Big Lots Seeks To Include Claims Against Execs In Asset Sale

    Discount retailer Big Lots on Thursday asked a Delaware bankruptcy judge to approve a $760 million asset sale to a private equity group and override creditor objections to the inclusion of potential litigation claims against company insiders in the package.

  6. November 04, 2024

    Purdue Buys Time For Creditor Deal, Eletson Plan Confirmed

    Facing a litigation stay deadline after the U.S. Supreme Court overturned its Chapter 11 plan, OxyContin maker Purdue Pharma was given a new one-month extension of the stay so that its creditors and the Sacklers can continue mediating to settle claims.

  7. November 01, 2024

    Big Lots Says $760M Bid Wins In Ch. 11 Auction

    Discount retailer Big Lots got approval from a Delaware bankruptcy judge to sell off nearly three-dozen store leases the day after it said it had received no offers to beat a $760 million bid for the business as a whole.

  8. October 25, 2024

    Big Lots Inc. Gets OK For Oct. 30 Ch. 11 Asset Auction

    A Delaware bankruptcy judge Friday approved discount retailer Big Lots Inc.'s plans to put itself on the block next week after hearing the provider of the baseline bid for the sale had secured the financing for its $760 million offer.

  9. October 21, 2024

    Big Lots Can Tap Final $10M DIP Draw To Fund Ch. 11 Sale

    Discount retailer Big Lots Inc. got a Delaware bankruptcy judge's approval Monday to access the final $10 million in new money being funded under its debtor-in-possession loan package after it struck a last-minute deal to quell objections that a slate of landlords raised against final DIP approval.

  10. October 16, 2024

    Big Lots Protections For $760M Bid Draw US Trustee Protest

    The U.S. Department of Justice's bankruptcy watchdog has objected to Big Lots' proposed protections for the prospective buyer of the bankrupt retailer's assets, saying a break-up fee and expense repayments aren't justified as part of the $760 million deal.