Big Lots Files For Chapter 11 Bankruptcy

Big Lots, a discount retailer with locations in western Kentucky and middle Tennessee, announced Monday it filed for Chapter 11 bankruptcy protection. The plans are to sell assets amid ongoing operations to private equity firm Nexus Capital Management, which will act as a “stalking horse” bidder – the sale is subject to higher or better offers. If Nexus wins, the deal is expected to close in the fourth quarter.

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