- 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.
Perfect analogy.
They’re leeches.
Company gets in trouble. They buy it for cheap. Suck it dry. Discard the corpse.