Big Lots Is a Target of the Same Firms That Upended Bed Bath & Beyond

Two of the three private equity firms that caused sweeping changes at Bed Bath & Beyond (NASDAQ: BBBY) have firmly fixed their gaze on struggling deep-discount chain Big Lots (NYSE: BIG).

Macellum Advisors and Ancora Advisors, which together own 11% of Big Lots stock, announced they have nominated a slate of nine candidates to replace the current board of directors, which they say "lacks relevant skill sets, has pursued a poor capital allocation strategy, and rejected credible offers to monetize Big Lots' real estate assets."

Image source: Big Lots.

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Source Fool.com