Columbus, Ohio — Big Lots, a retailer in the Top 50, filed for Chapter 11 protection in the U.S. Bankruptcy Court for the District of Delaware. The filing indicated that the company’s estimated assets ranged from $1,000,000,001 to $10 billion, while its estimated liabilities, which were estimated to be between $5,001 and 10,000 creditors, were also between $1,000,000,001 and $10 billion.
The discounter acknowledged in its announcement of reaching a sales agreement with a Nexus Capital Management affiliate that recent economic trends have reduced discretionary spending by its core customers on home and seasonal product categories, which account for a sizeable portion of its revenue.
As a result, Big Lots’ top 30 unsecured debtors include a number of well-known home furnishings companies. These creditors owe each other little more than $75.3 million.
Here are the top 30 unsecured creditors and the amount owed to each
- Ashley Furniture Inds., $12,281,796
- Serta, Inc., $5,956,768
- Big Avca Owner, $4,329,538
- Sealy Inc., $4,240,250
- Everstar Merchandise Co., $3,786,843
- Fusion Furniture, $3,262,323
- Elite Comfort Solutions, $2,637,484
- Zest Garden, $2,254,976
- FXI Inc., $2,233,611
- Pan Asian Creations, $2,183,746
- Polygroup Evergreen, $2,157,316
- Round Tripping, $2,146,393
- Keeco, $2,119,776
- PPJ, $2,027,334
- Ameriwood Inds., $1,936,980
- Singsong International Trade Co., $1,870,485
- All Courtesy International, $1,782,876
- Giftree Crafts Co., $1,737,473
- Carlington Inds., $1,670,896
- Ningbo Electrical Appliance Co., $1,611,329
- 3M Company, $1,586,000
- Millennium Gifts, $1,475,143
- Zhejiang Hentai Crafts, $1,388,347
- Building Air Services HVAC, $1,328,798
- Boston Warehouse Corp., $1,304,295
- Dell Financial Services, $1,279,002
- Hongkong GMS International, $1,233,484
- Twin Star International, $1,231,380
- Topmost Design, $1,198,255
- ESI Cases and Accessories, $1,117,850
