Big Lots is preparing to file for bankruptcy as early as this Sunday and plans to sell its chain of stores through a court-supervised process, Bloomberg News reported on Friday, citing people familiar with the situation.
The company will remain in operation under Chapter 11 protection, the report said, and is currently in the process of securing a stalking horse bid, which means that the bid could be outdone if better offers emerge.
https://www.reuters.com/business/retail-consumer/big-lots-prepares-bankruptcy-filing-with-plans-sell-stores-bloomberg-news-2024-09-06/