Discount home goods retailer Big Lots filed for bankruptcy protection on Monday after high interest rates and a sluggish housing market slowed demand for its low-priced furniture and decor.
COLUMBUS, Ohio — In a letter to employees obtained by sister publication Furniture Today, Big Lots President and CEO Bruce Thorn said the Top 100 retailer could return to profitability by 2025.
Shares hit as much as $70 three years ago when consumers, flush with stimulus payments, headed to Big Lots to stock up on food and buy furniture and other items for their homes. But the company's ...