(Bloomberg) — Big Lots Inc.’s efforts to stay in business are beginning to unravel, putting the discount retailer that employs more than 27,000 people at risk of liquidation, according to court records and people with knowledge of the matter.
A valuation appraisal of the bankrupt company’s inventory came in lower than expected, which threatens the economics of the sale of the chain to private equity firm Nexus Capital Management LP, said the people, who asked not to be identified discussing a private matter. At the same time, landlords have demanded that Big Lots explain why it hasn’t closed the deal with Nexus, which agreed to buy the company after it filed for Chapter 11 in September.
An official committee of unsecured…
