FORMER BL STORES INC: going-concern / distress — Former Big Lots files to convert Chapter 11 to Chapter 7; shares deemed worthless

FORMER BL STORES INC

On Oct 24 2025 Debtors filed motion to convert Chapter 11 cases to Chapter 7; hearing set for Nov 4.
If approved, a Chapter 7 trustee will be appointed to liquidate remaining assets for creditors.
Company expects to cease filing SEC reports after conversion and will no longer manage assets as debtors-in-possession.
Company believes its common shares are worthless; no distribution to shareholders expected in liquidation.
Sale of substantially all assets to Gordon Brothers closed Jan 3 2025; remaining assets to be liquidated.

Key facts

Extracted from this filing and checked against the source text.

Distress & Bankruptcy SEC 8-K Item 1.03 confidence 0.9

FORMER BL STORES INC entered chapter 11 in United States Bankruptcy Court for the District of Delaware (petition 2024-09-09).

Proceeding: chapter 11
Court: United States Bankruptcy Court for the District of Delaware
Petition: 2024-09-09

Exact text from the filing

Former BL Stores, Inc. (formerly known as Big Lots, Inc. and referred to herein as the “Company”) and its other subsidiaries (together with the Company, the “Debtors”) filed voluntary petitions for relief (collectively, the “Bankruptcy Petitions”) under chapter 11 of title 11 of the United States Code (the “Bankruptcy Code”) in the United States Bankruptcy Court for the District of Delaware (the “Bankruptcy Court”).

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Source: SEC EDGAR

accession 0000768835-25-000034

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