Big Lots is preparing for a fresh start, teasing an exciting comeback just months after nearly closing all its stores. Following financial troubles and a bankruptcy filing, the retailer now plans to reopen under new ownership, promising fresh products and major discounts.
A Rocky Road to Recovery
In September 2024, Big Lots filed for Chapter 11 bankruptcy, citing $3 billion in debt and a sharp drop in sales. Struggling against inflation, high interest rates, and changing consumer habits, the company initially announced plans to close over 500 stores. A proposed deal with private equity firm Nexus Capital Management LP fell through, pushing Big Lots toward liquidation.…