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| Economy |
| Nationwide discount retailer with 1,400 stores sparks fears of mass closures as it mulls bankruptcy |
| 2024-07-05 |
| [Daily Mail, where America gets its news] A nationwide discount homeware chain with almost 1,400 stores is the latest to warn of money problems. Big Lots has told financial regulators it may not be able to continue as a 'going concern' - raising the risk of store closures and bankruptcy. The Columbus, Ohio-based chain has seen its takings fall consistently for each of the past ten quarters. And it lost an eye-watering $132milloin in the first three months of 2024. Managers of its stores say they are not surprised. They have complained that the company's bosses at HQ send truck-loads of products that customers don't want. In a recent filing with regulators, Big Lots said that the losses so far this year - on top of further losses in 2022 and 2023 - meant it had used up most of its spare cash. Retailers need money in the bank to cover the cost of stock. |
| Posted by:Skidmark |
| #4 They thought they could become the next Sears. Problem is, nobody needs Sears anymore. |
| Posted by: ed in texas 2024-07-05 17:40 |
| #3 Gold is at $2400 & silver is moving up fast. |
| Posted by: Squinty+Hatfield8204 2024-07-05 15:11 |
| #2 Big Lots used to be a neat little place to pickup items at a good discounted prices. Then it started selling furniture, mattresses, and other high ticket items at typical prices. Many food items on the shelf started showing beyond the BB dates. OLLIE'S is now what Big Lots use to be 20 years ago. |
| Posted by: NN2N1 2024-07-05 14:38 |
| #1 Why two luxury retail giants are joining forces to stave off closure |
| Posted by: Skidmark 2024-07-05 12:27 |