this post was submitted on 09 Sep 2024
35 points (100.0% liked)

Economics

466 readers
253 users here now

founded 2 years ago
35
Big Lots files for bankruptcy protection, sells to private equity firm as it promises to keep offering 'extreme bargains' (www.cnbc.com)
submitted 3 months ago by MicroWave to c/economics
5 comments fedilink hide all child comments
 
  • 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.
you are viewing a single comment's thread
view the rest of the comments
[โ€“] [email protected] 2 points 3 months ago (1 children)

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

[โ€“] pdxfed 1 points 3 months ago

Thanks Taibbi