1334 ET - Gordon Brothers is being realistic about the prospects of the sale at Big Lots' closing stores after inking a takeover deal with the discount retail chain. "It's the beginning of the sales, but the hope is that the consumer shows up and continues to come to the Variety Wholesalers-owned stores as well," Gordon Brothers' Chief Transaction Officer Kyle Shonak tells WSJ. "There's all kinds of factors that play into it," such as snow storms and consumer sentiment and how they affect foot traffic, Shonak says. Overall, one of the main reasons why the liquidity firm bought Big Lots was to get the asset-based loans repaid, Shonak says. (sabela.ojea@wsj.com; @sabelaojeaguix)
(END) Dow Jones Newswires
January 09, 2025 13:34 ET (18:34 GMT)
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