Big Lots, Inc.

  1. 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.

  2. 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.

  3. October 11, 2024

    Under The Radar: Bankruptcy News You May Have Missed

    A group of secured lenders to food giant Del Monte have asked Delaware's Chancery Court to find a liability management transaction was an event of default for an original loan, insurers are hoping two seasoned mediators will be able to iron out a long-running dispute with a bankrupt New York diocese, and lawyers for cancer patients say a bankrupt talc miner's Chapter 11 plan would result in uneven recoveries for personal injury claimants.

  4. October 09, 2024

    The Story Behind Bargain Retailer Big Lots' Ch. 11 Case 

    Big Lots, like many other retailers, has faced both macroeconomic and industry-specific challenges in the wake of the COVID-19 pandemic, ultimately driving the company to Chapter 11 bankruptcy. 

  5. September 09, 2024

    Meet The Attorneys In The Big Lots Ch. 11

    Big Lots, a discount home goods retail chain that entered bankruptcy Monday with $556 million in secured debt, has assembled a team of lawyers from Morris Nichols Arsht & Tunnell LLP and Davis Polk & Wardwell LLP to assist with its plans to shutter over 300 stores and sell the remaining business.

  6. September 09, 2024

    Red Lobster Plan Confirmed, Big Lots Leads New Ch. 11s

    A string of new Chapter 11 bankruptcies were recently launched in Delaware, including a case from national discount home goods retailer Big Lots, which plans to pursue a going-concern sale. Meanwhile, seafood dining chain Red Lobster is on track to hand over the reins to a new group of owners, led by a secured lender, after the debtor secured confirmation of its Chapter 11 plan.

  7. September 09, 2024

    Bargain Retailer Big Lots Hits Ch. 11 With Sale In Sights

    Discount retail chain Big Lots filed for Chapter 11 protection Monday in Delaware with $556 million of secured debt and plans to shutter more than 300 stores while it works to complete a $620 million deal to sell the rest of its business as a going concern.