The previously announced sale to Nexus Capital Management is no longer expected to be completed.
Continue as a going concern
In parallel with these efforts, we are also preparing to begin going-out-of-business sales at our remaining stores.
columbus ohio, December 19, 2024 /PRNewswire/ — Big Lots, Inc. (the “Company”) today announced that its previously announced asset purchase agreement with Nexus Capital Management continues to work to complete an alternative going concern transaction with Nexus Capital Management. announced that it is not expected to be completed. Another party. The company’s goal is to complete the sale by early January.
In parallel with these efforts, we are preparing to begin going-out-of-business (“GOB”) sales at all remaining Big Lots stores in the coming days to protect real estate values. The Company believes that the sale of GOB will not preclude the implementation of a going concern transaction.
bruce thorn“All of us have worked extremely hard and taken every step to complete the going concern sale, and we are thrilled to be able to complete the alternative going concern transaction,” said Big Lots President and CEO. While we remain hopeful, given the value of Big Lots’ real estate, we have made the difficult decision to begin the GOB process.”
We continue to serve our customers in-store and online and will provide updated information as it becomes available.
Court filings and other information related to the proceeding, including how to file a proof of claim, are available on a separate website maintained by our claims agent, Kroll Restructuring Administration LLC, at https://cases. Available at ra.kroll.com/). To contact biglots, call toll-free (844) 217-1398 (+1 (646) 809-2073 from outside the US). Canada), or send an email to: (email protected).
advisor
Davis Polk Our legal advisor is & Wardwell LLP, our financial advisor is Guggenheim Securities, LLC, our restructuring advisor is AlixPartners LLP, and our real estate advisor is A&G Real Estate Partners.
About Big Lots, Inc.
Big Lots is one of the nation’s largest closeout retailers with an emphasis on extreme value. We’re dedicated to making a big difference in your life for the better by offering great deals on furniture, decor, pantries, and more to show off everything in your home. The company is on a mission to help customers “live big, save a lot” with sourcing strategies to grow extreme bargains through store closures, liquidations, overstock, private labels, and value-designed products. . Big Lots Foundation has worked with our customers, affiliates, and vendors to provide all that and more. $176 million Philanthropic support for critical needs in hunger, housing, health care, and education. For more information, to shop online or to find a store near you, visit biglots.com.
Cautionary note regarding forward-looking statements
Certain statements in this release are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, and such statements are intended to qualify for the safe harbor protection provided by the Act. I’m here. “anticipate”, “estimate”, “continue”, “could”, “approximate”, “expect”, “purpose”, “goal”, “plan”, “intend”, “plan “, “believes,” ” “will,” “should,” “may,” “goals,” “forecasts,” “guidance,” “outlook” and similar expressions generally refer to forward-looking statements. Indicates the description. Similarly, a description of our purpose, strategy, plans and goals. or targets are also forward-looking statements, including statements by management regarding future results or trends, including optimistic or pessimistic statements about future performance or events, expected sales, profits, capital expenditures, or business strategies. It’s about expectations. Forward-looking statements are based on a number of assumptions about future conditions and may ultimately prove to be incorrect. Forward-looking statements are based on management’s current beliefs and assumptions regarding future events and performance and apply only to the following circumstances: date of such statements. Although the Company believes that the expectations expressed in forward-looking statements are based on assumptions that are reasonable to the best of the Company’s knowledge, forward-looking statements by their nature are subject to risks and uncertainties. gender, and other factors, any one or a combination of which may have a significant impact. Business, Financial Condition, Results of Operations and Liquidity.
Forward-looking statements made by the Company in this document and other reports and releases are not guarantees of future performance, and actual results may vary as a result of various factors, including but not limited to: may differ materially from those discussed in the forward-looking statements. current economic and credit conditions, inflation, costs of goods, our inability to successfully implement strategic initiatives, competitive pressures, economic pressures on our customers and us, availability of brand name closeouts, trade restrictions, transportation costs; , the Risk Factors section of the risks discussed in our most recent annual report on Form 10-K, and other filings with the SEC, such as quarterly reports on Form 10-Q and current reports on Form 8-K. and other factors discussed from time to time. This release should be read in conjunction with any such filings, and you should consider all such risks, uncertainties and other factors carefully in evaluating the forward-looking statements. .
You are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date on which they are made. The Company undertakes no obligation to publicly update any forward-looking statements, whether as a result of new information, future events or otherwise. However, you are encouraged to refer to our public publications and SEC filings for further disclosures we make on related subject matter.
Media contact:
Aaron Palash / Richard M. Goldman / rachel goldman
joele frankWilkinson Brimmer Catcher
(email protected)
212-355-4449
SOURCE Big Lots, Inc.
