Big Lots Leans on Digital as Foundation for Bankruptcy Exit

Big Lots’ Chapter 11 bankruptcy filing and upcoming acquisition by Nexus Capital Management revealed the deep-rooted issues in the company’s business model, particularly its struggle to adapt to the digital age.In a previous interview with PYMNTS, Sudip Mazumder, SVP, retail industry lead, North America at digital consultancy Publicis Sapient, said Big Lots relied on a traditional brick-and-mortar model, focused on closeout merchandise and no longer met the demands of consumers seeking convenience, variety ...