AM I NEXT? NO LOVE AT CONN'S HOMEPLUS

The Woodlands, Texas-based Conn's HomePlus, a retail store chain offering furniture, mattresses, electronics, and appliances, has announced the nationwide closure of all of its retail stores, including all locations of Badcock Home Furniture, following its Chapter 11 bankruptcy filing in the Southern District of Texas. The company is still seeking a solution to its fiscal woes while paring back operations.

The closure will impact up to 4,000+ employees.

The company has issued no comments other than to send out a copy of its bankruptcy filing and notice of NASDAQ de-listing.

Change is coming. There will always be a tomorrow, no matter how much you may try to ignore it. There are no guarantees in life or promises for a bright future. We see good people being laid off through no fault of their own. Just because something bad hasn't happened yet doesn't mean it won't. It can happen to anyone, anytime, anywhere. No one is guaranteed to wake up tomorrow and still have a job by evening. While many employees can read the writing on the wall; why do most assume it’s targeted at someone else? Are you now wondering, Am I Next?

AM I NEXT? NO LOVE AT BIG LOTS (9/05/24)

JANUARY 1, 202 — 505 EMPLOYEES

The company will lay off 505 employees at its Rausch Creek Road distribution center located in Tremont, Pennsylvania, with layoffs starting January 6, 2025, and completed by March 31, 2025. This distribution center is one of five nationwide and the only one serving the northeastern U.S.

SEPTEMBER , 2024 — COLUMBUS, OHIO DISTRIBUTION CENTER TO CLOSE

The company will close its Columbus, Ohio, distribution center by October 31, 2024, with the loss of 379 employees.

AUGUST 8, 2024 -UPDATE — HUNDREDS OF STORES TO CLOSE (315?)

Discount chain Big Lots received approval from the Bankruptcy Court to shut down hundreds of outlets, after the company expressed “substantial doubt” on continuing business operations.

AUGUST 8, 2024 — Original post

Columbus, Ohio-based Big Lots, a discount retail chain, has announced the closure of between shutter 35 to 40 stores by the end of 2024.

The closures are expected to impact hundreds of employees at all levels.

The company appears to be in financial distress according to an SEC filing, which notes, "Based on our net losses and use of cash in operating activities in 2022, 2023 and the first quarter of 2024 and our current cash and liquidity projections, we have concluded there is a significant likelihood that we will be unable to comply with the Excess Availability Covenant under the 2022 Credit Agreement and the TermLoan Facility within the next 12 months, which raises substantial doubt about our ability to continue as a going concern. Our unaudited condensed consolidated financial statements do not include any adjustments relating to the recoverability of recorded asset amounts or the amounts and classification of liabilities that may result if we do not continue as a going concern.

Change is coming. There will always be a tomorrow, no matter how much you may try to ignore it. There are no guarantees in life or promises for a bright future. We see good people being laid off through no fault of their own. Just because something bad hasn't happened yet doesn't mean it won't. It can happen to anyone, anytime, anywhere. No one is guaranteed to wake up tomorrow and still have a job by evening. While many employees can read the writing on the wall; why do most assume it’s targeted at someone else? Are you now wondering, Am I Next?

AM I NEXT? NO LOVE AT 99 CENTS ONLY STORES (06/07/24)

JUNE 7, 2024 — 220 EMPLOYEES IN TEXAS

The wind-down continues as the company lays off 220 employees in Texas.

99 Cents Only shuttered all 371 stores. However, some locations are expected to reopen as Dollar Trees.

APRIL 8, 2024 — Original post…

City of Commerce, California-based 99 Cents Only Stores, a retailer of distressed, aged, surplus, and other bargain merchandise, has announced the wind-down of its business operations as

According to Mike Simoncic, Interim Chief Executive Officer of 99 Cents Only Stores and Managing Director at New York, NewYork-based Alvarez & Marsal, "This was an extremely difficult decision and is not the outcome we expected or hoped to achieve. Unfortunately, the last several years have presented significant and lasting challenges in the retail environment, including the unprecedented impact of the COVID-19 pandemic, shifting consumer demand, rising levels of shrink, persistent inflationary pressures, and other macroeconomic headwinds, all of which have greatly hindered the Company's ability to operate. We deeply appreciate the dedicated employees, customers, partners, and communities who have collectively supported 99 Cents Only Stores for decades."

The closure will affect over a thousand employees at 371 stores, distribution centers, and the company's headquarters.

"99 Cents Only Stores, together with its financial and legal advisors, engaged in an extensive analysis of all available and credible alternatives to identify a solution that would allow the business to continue. Following months of actively pursuing these alternatives, the company ultimately determined that an orderly wind-down was necessary and the best way to maximize the value of 99 Cents Only Stores' assets."

Change is coming. There will always be a tomorrow, no matter how much you may try to ignore it. There are no guarantees in life or promises for a bright future. We see good people being laid off through no fault of their own. Just because something bad hasn't happened yet doesn't mean it won't. It can happen to anyone, anytime, anywhere. No one is guaranteed to wake up tomorrow and still have a job by evening. Are you now wondering, Am I Next?