Reports: Big Lots Considering Possible Sale
COLUMBUS, Ohio-Big Lots is exploring a possible sale of the company, among other alternatives, according to press reports from a number of sources.
Press reports said the retailer has been approached by Thomas H. Lee Partners, former owner of Simmons, and Bain Capital about a potential sale. Big Lots has been working with Goldman Sachs on "strategic options," according to the reports. The speculation apparently fueled a 15.6 percent spike in Big Lots' stock price yesterday, to $39.20 at closing, in trading on the New York Stock Exchange.
Tim Johnson, vice president of strategic planning and investor relations, said Big Lots would not comment on the speculation.