Bruce Thorn, Big Lots' president and chief executive, stated that the sale agreement "presents the strongest opportunity to preserve jobs, maximize value for the estate and ensure continuity of the Big Lots brand." This reflects the strategic intent behind the deal, aiming to maintain the brand’s presence and retain employment opportunities.
Retail experts have pointed out that Big Lots' struggles stem from a "lackluster brand identity, flagging home goods sector and competition from online retailers and mass-discounters." This insight sheds light on the competitive challenges facing traditional retailers like Big Lots in today's market.
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