Bankruptcy: BIG LOTS INC

Form Type: NT 11-K

Filing Date: 2025-06-30

Corporate Action: Bankruptcy

Type: Update

Accession Number: 000076883525000016

Filing Summary: Big Lots, Inc. has filed a Notification of Late Filing on Form 12b-25 regarding its Form 11-K for the period that ended on December 31, 2024. The company is currently undergoing Chapter 11 bankruptcy proceedings, having filed voluntary petitions for relief on September 9, 2024. The Bankruptcy Court has approved a motion for joint administration of the bankruptcy cases under the caption In re: Big Lots, Inc., et al. The reasons for the delay in filing the Form 11-K are attributed to the extensive resources and attention required for the Chapter 11 proceedings, alongside the technical accounting implications associated with it. Big Lots is unable to estimate when it will be able to complete and file the necessary reports. Additionally, the company has not filed its Form 10-Q for the quarterly period ended November 2, 2024, and anticipates significant changes in its operational results compared to the prior fiscal year due to adverse developments leading to the Chapter 11 filings.

Form Type: 8-K

Filing Date: 2025-06-18

Corporate Action: Bankruptcy

Type: Update

Accession Number: 000076883525000014

Filing Summary: On May 30, 2025, Big Lots, Inc. and its subsidiaries filed for Chapter 11 bankruptcy relief. The Bankruptcy Court has granted a motion for joint administration of their cases, referred to as In re: Big Lots, Inc., et al., Case No. 24-11967 (JKS). As of this filing date, Big Lots cautions that trading in its common shares is highly speculative and holders may face a complete loss on their investment during the bankruptcy proceedings. Big Lots filed its April Monthly Operating Report with the Bankruptcy Court on May 30, 2025, which is available for review. The Company indicated that it will not file a Quarterly Report on Form 10-Q for the quarter ended November 2, 2024, nor for subsequent periods, but will instead report material events via Current Reports on Form 8-K. This document also includes cautionary statements regarding reliance on the Monthly Operating Report and forecasting uncertainties related to the Chapter 11 Cases.

Form Type: 8-K

Filing Date: 2025-05-19

Corporate Action: Bankruptcy

Type: Update

Accession Number: 000076883525000011

Filing Summary: On April 30, 2025, Big Lots, Inc. and its subsidiaries filed voluntary petitions for relief under chapter 11 in the U.S. Bankruptcy Court for the District of Delaware. The cases are being jointly administered under case no. 24-11967 (JKS). The Company filed a monthly operating report for March 2025, which is attached as Exhibit 99.1. Trading in the Company’s securities is highly speculative and poses substantial risks, with current holders of common shares potentially facing a complete loss on their investment. The information in the monthly report is not audited and is not a basis for investment decisions. The Company does not plan to file Quarterly Reports on Form 10-Q until further notice, opting instead to provide Current Reports on Form 8-K disclosing significant developments related to the Chapter 11 cases. The report also contains forward-looking statements regarding the Company’s strategy and anticipated trends, which are subject to various risks and uncertainties.

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.

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.

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.

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.