DWalt
Member
Maybe. I just saw that Big Lots took Chapter 11 this week, is closing 292 stores. Not too surprising. They have turned into mainly a cheesy cheap furniture store.
Big Lots bites the dust
- Thread starter DWalt
- Start date
Register to hide this ad
Sistema1927
US Veteran
Best economy ever.
LVSteve
Member
...and have you noticed how much coverage it got in the mainstream media?
The Last Standing Knight
Member
The chain has always had problems.
It started as MacFrugal's...then became something else before it was Big Lots.
USED to be...at least around here...like a dollar store on steriods only without the dollar store price.
They'll be sold to someone else...probably change the name again....and go back to business as usual.
It started as MacFrugal's...then became something else before it was Big Lots.
USED to be...at least around here...like a dollar store on steriods only without the dollar store price.
They'll be sold to someone else...probably change the name again....and go back to business as usual.
This just confirms one of my absolutely hard rules - never invest in retail.
JET4
Member
I went in once. Never been back
- Joined
- Apr 29, 2012
- Messages
- 4,619
- Reaction score
- 7,838
I think this is one of those pre-packaged deals...it's already been sold to some PE firm.
"Columbus, Ohio-based Big Lots filed for Chapter 11 bankruptcy on Sept. 9 of this year to facilitate a sale of substantially all of its assets and operations to an affiliate of Nexus Capital Management. Big Lots has already received approval to commence a sale process of 144 store leases and will seek approval in the coming weeks for the sale process of the additional 152 leases. Located throughout the United States, the stores range in size from 18,000 to 58,400 square feet. According to Andy Graiser, co-president of Melville-based A&G, the company is also "engaged in nationwide lease restructuring negotiations for Big Lots locations that have the greatest likelihood of serving customers going forward."
"Columbus, Ohio-based Big Lots filed for Chapter 11 bankruptcy on Sept. 9 of this year to facilitate a sale of substantially all of its assets and operations to an affiliate of Nexus Capital Management. Big Lots has already received approval to commence a sale process of 144 store leases and will seek approval in the coming weeks for the sale process of the additional 152 leases. Located throughout the United States, the stores range in size from 18,000 to 58,400 square feet. According to Andy Graiser, co-president of Melville-based A&G, the company is also "engaged in nationwide lease restructuring negotiations for Big Lots locations that have the greatest likelihood of serving customers going forward."
OP
DWalt
Member
Not necessarily a bad idea. Walmart stock has done extremely well for me, it has been one of my better investments.
I just got back from Colorado last week. Millions of sq ft retail/warehouse space empty. Restaurants closing up around here daily. Wife went to her favorite "vegan" spot in Winter Park earlier today, sign in the window: "Thanks for the last 17 years, we're done." It's only getting started.
U.S. National Debt Clock : Real Time
Joe
U.S. National Debt Clock : Real Time
Joe
Ivan the Butcher
Member
The actual Odd-Lots company is from Columbus, Ohio. Their HQ building is about 3 miles from my condo.
When they started, they were leftovers from retailers going out of business or changing inventory. I got a fantastic deal on 36" and 48" Roto Hammer bits. Around $15 each instead of $100's! Then they started branching out for the "Dollar" store market. Most of the Halloween candy was 2 to 3 years past date! Never buy cereal there. That was mid to late 90's. I never found real close-out odd-lots after that time and haven't been in a store in well over 15 years!!
No great loss to our way of life (unless you work there)!
Ivan
When they started, they were leftovers from retailers going out of business or changing inventory. I got a fantastic deal on 36" and 48" Roto Hammer bits. Around $15 each instead of $100's! Then they started branching out for the "Dollar" store market. Most of the Halloween candy was 2 to 3 years past date! Never buy cereal there. That was mid to late 90's. I never found real close-out odd-lots after that time and haven't been in a store in well over 15 years!!
No great loss to our way of life (unless you work there)!
Ivan
Never found anything that wasn't broken
OP
DWalt
Member
20 or so years ago, they had some interesting stuff and good prices. Today, not much of interest there worth the trip.
- Joined
- Apr 4, 2006
- Messages
- 19,794
- Reaction score
- 31,635
My wife has only bought one item there over the years...... Cucumber Wipes - that's it.
SweetMK
Member
I heard their furniture was VERY popular for "staging" homes that are for sale,,
Buy the junk cheaper than renting,, no liability if something is damaged.
After I heard that,, someone showed me some home listings that had their furniture in the home.
THEN, move it to the next empty home,,,,,,,,,,,,,
Buy the junk cheaper than renting,, no liability if something is damaged.
After I heard that,, someone showed me some home listings that had their furniture in the home.
THEN, move it to the next empty home,,,,,,,,,,,,,
Good place for...
Good place for things like REALLY cheap rugs if you know that animals are going to mess them up. I don't think I ever got anything else there and haven't been to one in many years.
Good place for things like REALLY cheap rugs if you know that animals are going to mess them up. I don't think I ever got anything else there and haven't been to one in many years.
LVSteve
Member
The one near me often has cheap and cheerful yard decorations and LED lighting. They are also a good source for el cheapo welcome mats and rugs. None of that stuff lasts out here with the heat and low humidity.
Thanks for this thread. As rough as it's gotten in south Fla. at least I'm not in Virginia!
The best bed pillows I've ever had came from BL 6-7 years ago. I think they're filled with shredded memory foam but they have the feel and heft of down without the clumping and sag. My wife goes there frequently and finds deeply discounted name brand dry goods nowhere near expired, $4 day old bread for $1.50 and my favorite quick meal Bear Creek anything in addition to seasonal stuff, throw pillows and such.
With two stores in the area one will close. Dollar General, Dollar Tree and Family Dollar diluted the market but Big Lots will still be our go to.
The best bed pillows I've ever had came from BL 6-7 years ago. I think they're filled with shredded memory foam but they have the feel and heft of down without the clumping and sag. My wife goes there frequently and finds deeply discounted name brand dry goods nowhere near expired, $4 day old bread for $1.50 and my favorite quick meal Bear Creek anything in addition to seasonal stuff, throw pillows and such.
With two stores in the area one will close. Dollar General, Dollar Tree and Family Dollar diluted the market but Big Lots will still be our go to.
Last edited:
Similar threads
- Locked
