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Big Lots Reaches Deal To Keep Hundreds Of Stores Open Big Lots Reaches Deal To Keep Hundreds Of Stores Open
Big Lots Reaches Deal To Keep Hundreds Of Stores Open Big Lots has announced a major development following its September bankruptcy filing. The discount retail chain says it's entered a strategic agreement with Gordon Brothers Retail Partners and Variety Wholesalers to preserve the brand, save thousands of jobs, and keep hundreds of stores open. Variety Wholesalers, known for its portfolio of retail brands, plans to acquire between 200 and 400 Big Lots locations, along with up to two distribution centers. There are about 1,400 Big Lots stores nationwide. The transition ensures Big Lots can transfer key assets and maintain continuity of its br…

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by Joe Lombardi
News
CT Has Nation's Largest Energy Bills: Residents Struggling To Keep Up, Data Shows CT Has Nation's Largest Energy Bills: Residents Struggling To Keep Up, Data Shows
CT Has Nation's Largest Energy Bills: Residents Struggling To Keep Up, Data Shows Nearly a third of Connecticut residents said they couldn't afford to pay a utility bill over the past year, according to a recent report based on data collected by U.S. authorities. That might be because Connecticut has the highest monthly electric bills in the nation. LendingTree released a report earlier this month on how Americans have struggled to make ends meet amid rising prices after analyzing data from the U.S. Energy Information Administration (EIA). They found that 34 percent of people nationwide have skipped purchasing house necessities like food or medicine to cover a utility bil…

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by Josh Lanier
Business
Shoplifting Costs Retailers Billions: These Are Most Frequently Stolen Items Shoplifting Costs Retailers Billions: These Are Most Frequently Stolen Items
Shoplifting Costs Retailers Billions: These Are Most Frequently Stolen Items Shoplifting in the US is a costly epidemic, with retailers losing over $120 billion last year. The trend focuses on easily concealed, high-demand products at major retailers like Walmart and Target, posing a nationwide challenge for store owners and law enforcement. Electronics, health and beauty products, and food items are among the most commonly stolen goods, Capital One Shopping reports.  Small gadgets such as headphones and phone chargers, alongside over-the-counter medications and cosmetics, are frequent targets.  Alcohol, baby formula, and packaged meats are also popular …

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by Joe Lombardi
Business
Popular Fast Casual Dining Chain Files For Bankruptcy Popular Fast Casual Dining Chain Files For Bankruptcy
Popular Fast Casual Dining Chain Files For Bankruptcy A popular fast casual dining chain has filed for bankruptcy after months of reporting financial distress. BurgerFi International, Inc., announced the Chapter 11 filing on Wednesday, Sept. 11. The Florida-based company is also the parent company of Anthony’s Coal Fired Pizza. All 144 locations of the two brands across the the nation will remain open and continue normal operations. BurgerFi makes up 93 of the eateries, and Anthony's the other 51. The Chapter 11 filing includes the 67 corporate-owned locations of both brands. "BurgerFi and Anthony's Coal Fired Pizza & Wings are dyn…

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by Joe Lombardi
Business
Big Lots To Close Pair Of NY Stores Big Lots To Close Pair Of NY Stores
Big Lots To Close Pair Of NY Stores Discount retail chain Big Lots plans to close around 40 stores this year, according to a filing with the Securities & Exchange Commission (SEC). It currently has around 1,425 stores nationwide. Six stores in New York, Connecticut, and Massachusetts are slated to close, with both New York stores on Long Island. No store closures are scheduled for New Jersey. The company cited rising costs and inflation as reasons for the move and said a bankruptcy filing could be coming. Stores in the Northeast slated for closure are as follows: New York 260 Voice Road, Carle Place 231 Centere…

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by Joe Lombardi