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Big Lots To Begin 'Going Out Of Business' Sales At Nearly 1,000 Remaining Stores Big Lots To Begin 'Going Out Of Business' Sales At Nearly 1,000 Remaining Stores
Big Lots To Begin 'Going Out Of Business' Sales At Nearly 1,000 Remaining Stores Big Lots has announced plans to close all of its remaining 963 stores, initiating "going out of business" sales following its Chapter 11 bankruptcy filing in September. The company says it's started the process of closing stores in 48 states and liquidating inventory under its court-supervised Chapter 11 bankruptcy proceedings.  The decision comes as the retailer seeks to maximize value for stakeholders while exploring potential going-concern sale opportunities. "We all have worked extremely hard and have taken every step to complete a going concern sale," Big Lots' President and Chie…

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by Joe Lombardi
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Why New Jersey Is Suing TikTok Why New Jersey Is Suing TikTok
Why New Jersey Is Suing TikTok New Jersey has joined a group of states suing social media giant TikTok, alleging the video-sharing app is highly-addictive and harmful to children. The complaint, filed temporarily under seal in the Superior Court of New Jersey, Chancery Division, Essex County, alleges multiple violations of the New Jersey Consumer Fraud Act (CFA), New Jersey Attorney General Matthew Platkin said. Other AGs are filling similar lawsuits across the country Tuesday, Oct. 9, including those in Kentucky, Louisiana, Massachusetts, Mississippi, North Carolina,  Oregon, South Carolina, Vermont and Washington.…

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by Cecilia Levine
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Walmart Agrees To Whopping $1.64M Settlement Amid Unfair Pricing Accusations At NJ Stores Walmart Agrees To Whopping $1.64M Settlement Amid Unfair Pricing Accusations At NJ Stores
Walmart Agrees To Whopping $1.64M Settlement Amid Unfair Pricing Accusations At NJ Stores Walmart has agreed to pay $1.64 million to settle accusations of unlawful pricing at its 64 stores across New Jersey, state officials said. The settlement, which includes a $1.61 million civil penalty, is the largest ever obtained by the Division’s Office of Weights and Measures (“OWM”). Walmart was accused of violating New Jersey’s Consumer Fraud Act (“CFA”) and Unit Pricing Disclosure Act (“UPDA”) by using inaccurate unit pricing for a variety of grocery products sold in the chain’s New Jersey locations, Attorney General Matthew J. Platkin said. The UPDA requires grocery retailers t…

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by Cecilia Levine