Bankruptcy: BIG LOTS INC

Form Type: 8-K

Filing Date: 2025-04-10

Corporate Action: Bankruptcy

Type: Update

Accession Number: 000076883525000008

Filing Summary: On April 10, 2025, Big Lots, Inc. provided an update regarding its ongoing Chapter 11 bankruptcy proceedings. The company had previously filed voluntary petitions for relief under Chapter 11 on September 9, 2024. The Bankruptcy Court has granted a motion for joint administration of the Chapter 11 cases. On March 31, 2025, the Company submitted its monthly operating report for the period ending March 1, 2025. The report is available for review on the designated claims agent's website. The company cautioned that trading in its securities during the bankruptcy process is speculative and poses substantial risks, with potential losses for shareholders. Additionally, it does not intend to file regular Quarterly Reports or Annual Reports during the ongoing bankruptcy but will instead file Current Reports on Form 8-K disclosing material events and containing the submitted monthly operating reports.

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Form Type: 8-K

Filing Date: 2025-03-18

Corporate Action: Bankruptcy

Type: Update

Accession Number: 000076883525000006

Filing Summary: On March 18, 2025, Big Lots, Inc. provided an update regarding its ongoing Chapter 11 bankruptcy proceedings that commenced with voluntary petitions filed on September 9, 2024. The Bankruptcy Court has granted a motion for joint administration of the bankruptcy cases under the caption In re: Big Lots, Inc., et al., Case No. 24-11967 (JKS). The company submitted its monthly operating report, termed the January Monthly Operating Report, for the period ending February 1, 2025, which is accessible through Kroll Restructuring Administration LLC. They caution that trading of its common shares during the Chapter 11 process is highly speculative and poses significant risks to investors, with expectations of complete loss for common shareholders. The report clarifies that it was prepared to meet reporting requirements set by the Bankruptcy Court and is not intended for investment decision-making. Big Lots does not plan to file quarterly or annual reports, choosing to disclose material events via Form 8-K during the bankruptcy process.

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Form Type: 8-K

Filing Date: 2025-01-06

Corporate Action: Bankruptcy

Type: Update

Accession Number: 000076883525000002

Filing Summary: On December 31, 2024, Big Lots, Inc. and its subsidiaries filed for Chapter 11 bankruptcy protection. This disclosure outlines an Asset Purchase Agreement with Gordon Brothers Retail Partners, LLC, which allows for the transfer of Big Lots assets. The Bankruptcy Court approved the sale of assets, which enables Variety Wholesalers to acquire between 200 and 400 Big Lots stores and up to two distribution centers. Additionally, a cautionary note informs that trading in Big Lots securities is speculative, and shareholders may face a complete loss on their investments as the company navigates bankruptcy proceedings. The document includes a mention of a monthly operating report and advises against reliance on it due to its limited scope and preparation standards.

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Form Type: 8-K

Filing Date: 2024-12-27

Corporate Action: Bankruptcy

Type: New

Accession Number: 000076883524000076

Filing Summary: Big Lots, Inc. has filed for Chapter 11 bankruptcy on September 9, 2024, and reached an Asset Purchase Agreement with Gordon Brothers Retail Partners on December 27, 2024. This agreement allows the transfer of Big Lots assets to other retailers, including the acquisition of 200 to 400 stores by Variety Wholesalers. Additionally, on December 21, 2024, Nexus Capital Management terminated a previous Asset Purchase Agreement intending to buy the company's assets. The Company anticipates going out of business sales at all remaining store locations to protect its financial estate during the Chapter 11 proceedings.

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