Big Lots is bankrupt and selling itself to private equity

Forever 21, maybe? IIRC they had a big liquidation sale (near where I live) & I figured that was that. A year or two later (if that), I’m noticing stores that are still (or re-)opened (but not that 1 store, i don’t believe).

Claire’s?

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In the casino that is late-stage capitalism, there’s always a degenerate gambler out there who thinks he has a system to beat the house.

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That reads like the first line of a pulpy novel. Neoliberal Noir?

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It does seem that successful recoveries are few and far between.

I remembered that Rite Aid declared bankruptcy last year and my guess is that they’ll probably make it, found this article about it:

https://www.seattletimes.com/business/bartell-drugs-enters-new-chapter-as-rite-aid-exits-bankruptcy/

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I actually went to a Big Lots yesterday to get some of those storage bins. They had a hand-written sign taped to the entrance door:

CASH ONLY, SORRY

I turned around and left.

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This is counterintuitive. It’s usually private equity that bankrupts companies.

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There was a time when Big Lots was a pretty good store but it had a sea change a decade ago or so.

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