Reported about 1 month ago
According to Bloomberg, discount retailer Big Lots is contemplating a bankruptcy filing amid declining sales and increasing financial pressures. The company is exploring potential investors to avert Chapter 11 bankruptcy. Big Lots' shares plummeted 27% in post-market trading, and the company has faced a significant drop in value, losing almost 88% this year. The retailer aims to improve its liquidity, disrupted by reduced demand for discretionary items due to rising interest rates.
Source: YAHOO