Big Lots has completed its previously announced sale and leaseback transactions with affiliates of Oak Street Real Estate Capital relating to its four company-owned distribution centers. Gross proceeds from the transactions were $725 million and net proceeds, after expenses and taxes, are expected to be approximately $550 million.
Big Lots has partnered with Instacart to launch same-day delivery nationwide from nearly 1,400 Big Lots stores across all 47 states where the retailer operates.
Big Lots has formed an agreement with Macellum Advisors and Ancora Advisors, who beneficially own approximately 9.8% of the company’s outstanding common shares, to appoint Andrew Clarke and Aaron Goldstein to the company’s board of directors, effective immediately.
As a tribute to store employees, Big Lots has released a new television spot, with a portion of the proceeds from the music featured in the commercial going to health care workers fighting COVID-19.
Big Lots has entered into sale and leaseback agreements with affiliates of Oak Street Real Estate Capital covering the company’s distribution centers in Columbus, OH, Durant, OK, Montgomery, AL and Tremont, PA.
Macellum Advisors and Ancora Advisors, activist investors who are sponsoring a slate of nominees for the Big Lots board of directors, has issued an open letter for fellow shareholders describing what they see as means to increase the value of the company.
Big Lots has issued a statement in response to Macellum Capital Management and Ancora Advisors, who submitted a notice of nomination of nine director candidates to stand for election to the retailer’s board of directors at the company’s 2020 annual meeting of shareholders.
Big Lots has appointed Jonathan Ramsden evp/chief financial and administrative officer, effective August 5.