Big Lots files for bankruptcy, sells to PE firm as it promises to keep offering 'extreme bargains'

A Big Lots store in Los Angeles, California, US, on Saturday, Sept. 7, 2024. Discount home goods retailer Big Lots Inc. is preparing to file for bankruptcy as soon as Sunday, and plans to sell its chain of stores via a courtsupervised process, according to people familiar with the plans. Discount home goods retailer Big Lots filed for bankruptcy on Monday after high interest rates and a sluggish housing market slowed demand for its low-priced furniture and decor. As part of its filing, Big Lots has agreed t ...