Reported 3 days ago
Big Lots Inc.'s recent proposal to stay afloat is jeopardized by creditor opposition, as some claim they lack the time to review the terms of the deal thoroughly. The company aims to sell its business to Gordon Brothers Retail Partners, who would then transfer many locations to Variety Wholesalers Inc. However, creditors express skepticism, threatening to push for liquidation. A court ruling on the proposal was delayed as negotiations continue, putting the survival of the retailer in a precarious position amidst its ongoing bankruptcy proceedings.
Source: YAHOO