With the COVID-19 pandemic still raging on and no end in sight, many retailers are struggling to stay afloat. Unfortunately, it seems that Big Lots may be one of the casualties of the pandemic.
According to Business Insider, the discount retailer is considering filing for bankruptcy as soon as this month. The company has been struggling for years, but the pandemic has exacerbated its financial problems.
In recent months, Big Lots has closed dozens of stores across the country. It’s also been selling off assets, including its distribution center in Ohio and its Canadian subsidiary. The company has also laid off a number of employees.
All of these factors point to a company that is struggling to stay afloat. If Big Lots does file for bankruptcy, it’s possible that many of its stores will be closed for good. So far, the company has not commented on the rumors.
So far, there is no confirmation that Big Lots will be closing its doors for good in 2021. However, the company is clearly struggling and it seems likely that bankruptcy proceedings could lead to many stores being closed permanently.
