"This sale agreement and transfer present the strongest opportunity to preserve jobs, maximize value for the estate and ensure continuity of the Big Lots brand," CEO Bruce Thorn said. The CEO's statement reflects the company's commitment to maintaining its workforce and brand presence while navigating financial challenges.
"There is no alternative to the Sale other than a liquidation, and the Debtors' estates and their creditors are better off if the Sale were to close," the company said in its motion proposing the deal. This highlights the critical need for the company to finalize the deal to prevent total liquidation.
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