Overview

• Big Lots is considering filing for Chapter 11 bankruptcy due to prolonged sales declines and financial losses.
• The company is actively seeking investors to improve liquidity and avoid bankruptcy protection.
• Big Lots' shares have dropped over 90% this year, with recent trading showing a 27% decline.
• Executives recently received over $5 million in retention bonuses, signaling potential bankruptcy preparations.
• The retailer has been working with AlixPartners to manage costs and navigate financial challenges.