Two Big Lots locations in northern Nevada are shuttered as the discounter retail closes more than 300 stores nationwide.The locations in Lemmon Valley and on S

Struggling Big Lots will be acquired in a multimillion-dollar deal after the company filed for bankruptcy with up to $10 billion in debt.

Discount retailer Big Lots Inc. has filed for bankruptcy protection and plans to sell the firm’s assets and ongoing business in a court-supervised process.

Columbus, Ohio-based Big Lots Inc. operates more than 1,000 stores in 48 states, as well as an e-commerce platform with expanded fulfillment and delivery capabilities. The company is No. 59 on The PG 100, Progressive Grocer’s 2024 list of the top food and consumables retailers in North America.

The bankruptcy financing provides Big Lots with $35 million in new money and rolls up other company debt, according to court documents. A roll-up moves existing company debt to the front of the repayment line in lockstep with newly lent money.

Sales through the first half of the year are down 9.1%. Big Lots reported a loss in the quarter of $238 million, or $8.04 a share, compared with a loss of $249 million, or $8.56 a

For bargain hunters, Big Lots has long been a haven for furniture, home goods, and seasonal finds at rock-bottom prices. But in a cruel twist of fate, the discount retailer itself couldn’t withstand the rising tide of inflation.