Discount home goods retailer Big Lots filed for bankruptcy protection as low-income shoppers slow spending on new furniture and home decor.
  • Big Lots filed for bankruptcy protection, citing stubborn inflation, high interest rates and a slowdown in consumer spending on home goods such as furniture and decor.
  • Private equity firm Nexus Capital Management has agreed to buy Big Lots for $760 million, consisting of $2.5 million in cash plus its remaining debt.
  • The home goods sector has been under pressure over the last two years after demand surged during the Covid-19 pandemic.
  • henfredemars@infosec.pubEnglish
    9·
    3 months ago

    When does private equity actually add value these days? I can only recall them as some sort of nebulous vampiric entity that sucks up value.

    • RangerJosie@lemmy.world
      8·
      3 months ago

      Perfect analogy.

      They’re leeches.

      Company gets in trouble. They buy it for cheap. Suck it dry. Discard the corpse.

    • Tramort
      2·
      3 months ago

      They are the vampire squid wrapped around the head of the American economy, repeatedly thrusting their blood funnel into its face.