For bargain hunters, Big Lots has long been a haven for furniture, home goods, and seasonal finds at rock-bottom prices. But in a cruel twist of fate, the discount retailer itself couldn’t withstand the rising tide of inflation.

The Top 100 retailer's president and CEO believes the company has the right plan and right direction as it navigates the Chapter 11 process.

COLUMBUS, Ohio — Discount retailer Big Lots has filed for Chapter 11 bankruptcy protection, as it contends with a pullback in consumer spending and soft sales. The Columbus, Ohio-based company plans to sell its assets and ongoing business operations to private equity firm Nexus Capital Management.

Discount retailer Big Lots has filed for Chapter 11 bankruptcy protection, weeks after the discount furniture store said it planned to close hundreds of stores.

Struggling closeout retailer Big Lots filed for bankruptcy protection Monday, saying it's been hurt by inflation and high interest rates.

Big Lots filed for Chapter 11 bankruptcy protections and agreed to sell itself to an affiliate of private-equity firm Nexus Capital Management, following extended sales declines and several quarters of losses at the discount retailer.

Discount retailer Big Lots has filed for Chapter 11 bankruptcy protection and ten Bay Area stores are set to close soon. Big Lots is known for selling furniture, household essentials and home decor. The Columbus,

Some locations have banners on their web pages showing closing sales are “going on now,” advising customers they can “save up to 20% off.”