US discount retailer with 1,400 stores files for bankruptcy as stock halves in value in minutes
Discount home goods retailer Big Lots filed for bankruptcy this morning - raising questions over the future of its 1,400 stores. Bosses hope to sell the business to private equity firm Nexus Capital but first it will cut costs by closing more stores. It must also cut its huge debt. In the meantime, Big Lots - which three months ago said it had 'substantial doubt about the Company's ability to continue' - has secured $707.
More >> https://ift.tt/6qEVKDX Full Article on Source: MAG NEWS
#us #uk #world #fashion #showbiz #celebrity #lifestyle #top #news