Big Lots
[6] Big Lots filed for Chapter 11 bankruptcy in October 2024, and later in December, the chain announced that it would cease operations, liquidate, and close all remaining stores.[8] The Big Lots chain traces its history to 1967 when Consolidated Stores Corporation was formed in Ohio by Sol Shenk.In July 2024, Big Lots announced the closure of 35 to 40 underperforming locations nationwide, blaming inflation and high rising costs as part of the decision.[30][31] On August 28, 2024, Big Lots warned that they could file for Chapter 11 bankruptcy protection within the coming weeks, blaming declining sales caused by rising interest rates as part of the decision.[32] On September 9, 2024, Big Lots filed for Chapter 11 bankruptcy protection, with plans to sell itself to Nexus Capital Management.[36] On July 19, 2011, Big Lots announced that it had purchased Liquidation World Inc., a Canadian closeout retailer with 89 locations for $20 million in cash and the assumption of certain liabilities.