Consumer
Big Lots Is Considering Bankruptcy Filing After Sales Slump
- Discount chain may seek court protection within weeks
- Off-price retailer has suffered years of declining sales
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Off-price home goods retailer Big Lots Inc. is contemplating a potential bankruptcy filing after years of sales declines, according to people with knowledge of the plans.
The company is also seeking investors in a bid to avoid Chapter 11, according to one person familiar. The people asked not to be named sharing information about confidential matters. The plans aren’t final and Big Lots’ path may change.