I’m glad the economy is doing so well, or they would have done this months ago.
BREAKING: Big Lots, US discount retailer with 1,400 stores, files for bankruptcy as stock halves in value in minutes pic.twitter.com/Ubp1JSLkvb
— Insider Paper (@TheInsiderPaper) September 9, 2024
Big Lots has filed for Chapter 11 bankruptcy protection. The company cited high inflation, rising interest rates, and a pullback in consumer spending as major factors contributing to its financial difficulties. As part of the bankruptcy proceedings, Big Lots plans to sell its assets to Nexus Capital Management and close additional store locations.
Sources:
www.usatoday.com/story/money/2024/09/09/big-lots-bankruptcy-stores-closing/75141382007/
apnews.com/article/big-lots-bankruptcy-retail-consumer-4713b5436d17c7838a45fe5cd5c3fe8b
h/t last one