COLUMBUS, Ohio – Big Lots has filed for Chapter 11 bankruptcy protection pointing to high inflation and interest rates as reasons for reduced revenue from home and seasonal product purchases, retail categories the chain depends on for important parts of its revenue.
The Big Lots store at 66 Morrisville Plaza, Morrisville
At the same time, the company announced plans to sell its assets and ongoing business operations to private equity firm Nexus Capital Management.
Information in the court filing indicates the company will be closing at least 344 stores, up from roughly 300 store closings announced in early August.
The manager at Morrisville’s Big Lots store had no information about any future plans to close that store.
During and after this process, Big Lots indicates it will continue to serve customers at their nearest store location or online at biglots.com.
Paul Fixx is editor of The Hardwick Gazette and lives in Hardwick.
