After all innovation typically moves faster than regulation and the growing strain between traditional banks and future-fit fintech and crypto firms can also be in part chalked up to the inevitable consequence of outdated regulatory frameworks stricter know your customer kyc and anti-money laundering aml standards as well as heightened fraud risks that report said. Recommended bears bulls and regulations shape cryptos aspirations big lots long road ahead: discount retailer faces challenges despite acquisition fdic rates banks outstanding in cra compliance falconx acquires arbelos to expand crypto derivatives business see more in: bitcoin blockchain cross-border payments crypto cryptocurrency digital assets fintech markets in crypto-assets mica news pymnts news regulations stablecoins stock market big lots faces challenges despite acquisition by pymnts january big lots big lots a once-dominant player in the discount retail sector faces an uncertain future following an acquisition by gordon brothers retail partners.
The agreement finalized dec. Ensures hundreds of big lots australia cell phone number list stores will remain operational as the assets of the bankrupt retailer are transferred to other entities including variety wholesalers. Under the new ownership structure variety wholesalers will take over to big lots locations maintaining the brand and continuing operations along with up to two distribution centers. For big lots the deal with gordon brothers offers a lifeline after a turbulent year marked by financial struggles and declining sales.
The company initially planned an acquisition by nexus capital management but that deal fell through leaving big lots facing closure. While the new agreement brings hope the retailer continues to face challenges. Big lots has struggled to adapt to shifting consumer preferences relying too heavily on traditional brick-and-mortar retailing and failing to compete with discount giants like walmart and dollar general and specialized retailers such as tjx and ross.