Reported about 1 month ago
Big Lots Inc., a discount home goods retailer, is reportedly considering bankruptcy filing following several years of declining sales. The company is also actively trying to secure investments to avoid Chapter 11 proceedings. Recently, Big Lots' shares fell by 30% in after-hours trading, and they have been working with AlixPartners LLP to navigate its financial troubles. Earlier this year, the company received a loan to alleviate liquidity issues and authorized significant retention bonuses for executives, hinting at possible corporate restructuring.
Source: YAHOO