Big Lots weighing possibility of bankruptcy filing as sales dwindle

Published On Aug 30, 2024, 6:54 AM

Big Lots is considering filing for bankruptcy as its sales have continued to decline. The company is facing financial difficulties, marked by a significant drop in net sales—down 10.2% to $1 billion year-over-year in the first quarter of 2024. To avoid bankruptcy, Big Lots is seeking investors and has already increased its potential store closings to 315. This situation follows previous reports indicating that the retailer has had net losses in recent years and doubts about its ability to continue operating.