Connect with us

Tennessee

Why Big Lots announced going out of business sales at remaining locations. What to know about closures in Tennessee

Published

on

Why Big Lots announced going out of business sales at remaining locations. What to know about closures in Tennessee


play

Big Lots has closed over 400 stores in 2024 and has now announced going out business sales across its remaining locations.

On Thursday, Big Lots announced in a news release that it did not anticipate a sale to Nexus Capital Management going through. In this deal, Nexus Capital Management would have taken over Big Lots by early January helping the chain achieve financial stability.

Advertisement

Here’s what to know about Big Lots closures in Tennessee.

Is Big Lots closing all its stores?

Big Lots does not have any plans to close all of its stores yet. The going out of business (GOB) sales are a way for the company “protect the value of its estate,” according to their statement. The goal is for the sales to allow Big Lots to continue being a company that is financially stable enough to meet obligations and continue business in the near future.

“We all have worked extremely hard and have taken every step to complete a going concern sale. While we remain hopeful that we can close an alternative going concern transaction, in order to protect the value of the Big Lots estate, we have made the difficult decision to begin the GOB process,” said Bruce Thorn, Big Lots’ President and Chief Executive Officer,

The company filed for Chapter 11 bankruptcy in September after announcing the original plan to close less than 50 stores in July. There have been over 400 stores announced for closure since then.

Which Big Lots stores in Tennessee are closing?

As previously reported by USA TODAY, the stores closing in Tennessee include two stores outside Nashville and one in northwest Tennessee. They are:

Advertisement

There has been one store added to the closing list:

How many Big Lots are there in Tennessee?

There are a total of 47, soon to be 43, Big Lots stores across Tennessee. Locations include Chattanooga, Clarksville, Memphis, Knoxville and more. A complete list of Big Lots stores can be found at local.biglots.com/tn.

Why is Big Lots closing stores?

High inflation and interest rates are impacting Big Lots like many other stores. Additionally, a news release from the company said economic trends like customer spending on home and seasonal products, have affected the company’s revenue.

The company had previously reported that sales in the first quarter of 2024 fell more than 10% compared to the previous year. The company did perform better in the second quarter, yielding improved comp sales.

Advertisement

“While the company’s underlying performance has been improving, the Board of Directors conducted a broad strategic review of alternatives and determined that entering into the Sale Agreement with Nexus, and initiating a court-supervised sale process, is the best path forward to maximize value and ensure continued operations,” wrote Big Lots in the news release.



Source link

Tennessee

Tennessee woman arrested after allegedly trying to drown one of her children in backyard pool

Published

on

Tennessee woman arrested after allegedly trying to drown one of her children in backyard pool


NEWYou can now listen to Fox News articles!

Advertisement

A Tennessee woman was arrested this week after authorities said she tried to drown one of her children in a backyard swimming pool.

Mikaylee Rae Beirne, 31, of Johnson City, was charged with aggravated child abuse and neglect following the July 15 incident, according to the Washington County Sheriff’s Office.

Washington County Sheriff Keith Sexton said deputies responded to a disturbance at a home on Cochran Road around 5 p.m.

BROOKLYN MOTHER WHO DROWNED HER THREE CHILDREN IN THE OCEAN NEAR CONEY ISLAND SENTENCED TO DECADES IN PRISON

Mikaylee Rae Beirne was charged with aggravated child abuse and neglect after authorities said she tried to drown one of her children in a backyard swimming pool in Johnson City, Tennessee. (Washington County Sheriff’s Office)

Advertisement

Witnesses told deputies Beirne was in the backyard pool with multiple children while another adult was inside the home.

According to investigators, one of the children ran inside to alert the adult that Beirne was allegedly forcing another child underwater.

The adult rushed to the pool and demanded that Beirne release the child, but she refused, authorities said.

DAYCARE OPERATOR ARRESTED AFTER 3-YEAR-OLD WAS LEFT UNCONSCIOUS IN POOL FOR 20 MINUTES, DIED

Mikaylee Rae Beirne was arrested after authorities alleged she tried to drown one of her children in a backyard swimming pool in Johnson City, Tennessee. (Washington County Sheriff’s Office)

Advertisement

The adult then pulled Beirne away and helped the child out of the water. Officials said another adult arrived at the home and briefly interacted with Beirne before deputies arrived. Beirne left the scene before law enforcement responded.

The children were taken inside the home while emergency personnel were called. Authorities said the child suffered minor injuries and bruising.

The Washington County Sheriff’s Office said a Tennessee woman was arrested after allegedly trying to drown one of her children in a backyard pool. (Washington County Sheriff’s Office)

Deputies located Beirne a short time later and took her into custody.

CLICK HERE TO DOWNLOAD THE FOX NEWS APP

Advertisement

She is being held at the Washington County Detention Center on a $50,000 bond.



Source link

Continue Reading

Tennessee

L.L.Bean opens first Tennessee store in Franklin. See inside

Published

on

L.L.Bean opens first Tennessee store in Franklin. See inside


play

The boot has arrived. After months of anticipation, L.L.Bean opened its inaugural Tennessee location at Cool Springs Galleria mall in Franklin July 17.

To celebrate and spread the word, L.L.Bean’s 13-foot-tall Bootmobile boot-shaped vehicle made appearances throughout the Franklin area, including stops at The Franklin Butchery, Hank’s Coffee Station, Leiper’s Fork Distillery and a Nashville Sounds game.

Advertisement

“For generations, Tennesseans have shopped with L.L.Bean through our catalog and online channels, and we’re excited to finally bring the brand experience to life in Franklin,” said L.L.Bean District Manager Kenon Mitchell. “With its strong outdoor culture and growing community, Franklin is a natural home for L.L.Bean. We look forward to deepening our connection with longtime customers while introducing the brand to new audiences through our legendary service, quality products and outdoor expertise.”

Some fans of the Maine-based outdoor gear store arrived for the opening before dawn.  

First in a line of about 150 people was Paul Smith, who got there at 3 a.m.

Advertisement

“We are super excited for this,” Smith said. “We always go up to their headquarters in Maine, so we know what L.L. Bean is and we love them.” 

Smith was most excited to purchase some more of their equipment: “Their outdoor equipment is really great. Their backpacks are well known for being waterproof and long-lasting.” 

L.L.Bean also made a $10,000 contribution to the Franklin Family YMCA. Since 2022, L.L.Bean has contributed more than $2.25 million to YMCA Summer Camp scholarships.

Advertisement

“We’re an all-American outdoor lifestyle program,” Mitchell said. No matter if you’re walking your dog, playing with your kids, or you’re hiking around, we’re providing the gear that helps to make that experience better. We’ve been around for 114 years and our stuff is really well crafted, that people have loved for years. We’re happy to bring this store to our current fans while bringing our store to more people. 

L.L. Bean is located at 1800 Galleria Blvd. Suite 252 at Cool Springs Galleria. The store is open from 9 a.m. to 8 p.m. Monday – Saturday and 11 a.m. to 7 p.m. on Sundays. 



Source link

Continue Reading

Tennessee

State encouraging Paramount to come to Tennessee

Published

on

State encouraging Paramount to come to Tennessee


Enter your email and we’ll send a secure one-click link to sign in.

WKRN is provided by Nexstar Media Inc., and uses the My Nexstar sign-in, which works across our media network.

Nexstar Media Inc. is a leading, diversified media company that produces and distributes engaging local and national news, sports, and entertainment content across its television and digital platforms. The My Nexstar sign-in works across the Nexstar network—including The CW, NewsNation, The Hill, and more. Learn more at nexstar.tv/privacy-policy.

Advertisement



Source link

Continue Reading
Advertisement

Trending