Overview

• Big Lots filed for Chapter 11 bankruptcy in September, citing high inflation and decreased consumer spending as major factors.
• The company plans to close more than 340 stores nationwide, with closures already underway in some areas.
• Texas, Ohio, Tennessee, and Arizona are among the states most affected, with multiple store closures announced in each.
• Nexus Capital Management LP is set to acquire Big Lots' assets and business operations, pending court approval.
• Big Lots continues to operate its remaining stores and e-commerce site, while also evaluating the future of its distribution centers.