Big Lots Files for Bankruptcy After Closing More Than 300 Locations
Big Lots has filed for bankruptcy, more stores potentially closing soon.
Back in early July, Big Lots started to announce that they were closing select stores; by August that list had continued to grow to more than 315 locations in 30 states.
Now Big Lots has filed for Chapter 11 bankruptcy and is being acquired by the private equity firm Nexus Capital Management. During this transition, all stores that were unaffected by the previous closures will stay open. However, Big Lots warned that more store closures are likely.
According to Big Lots, several economic factors contributed to this decision, including high inflation and interest rates that caused customers to change their purchasing behavior.
What kinds of purchases do you make at Big Lots? Let us know in the onlinements below!
*Note that if you’re still able to shop at your Big Lots, you can save 20% on your next purchase through 9/13! Even sweeter, if you round up or donate with your purchase you may be able to score an additional offer that will stack with this coupon!
