Consumer
Big Lots’ New Rescue Deal at Risk Following Creditor Opposition
- Some landlords, vendors doubt proposed sale can be completed
- Judge will consider the deal during a court hearing Tuesday
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A new proposal to prevent Big Lots Inc. from shutting all its stores is at risk following complaints from some creditors that stand to incur losses in the troubled retailer’s bankruptcy.
The company on Dec. 27 unveiled a proposal to sell the business to Gordon Brothers Retail Partners, which in-turn has offered to transfer 200 to 400 Big Lots locations to Variety Wholesalers Inc.