Jordan Valinsky
As a result, Big Lots is starting its "going out of business" sales at all remaining locations in the coming days. However, it still plans to explore other options to save the company, including negotiating with Nexus or another buyer, with the aim of completing a sale by early January. Big Lots blamed several economic factors for its bankruptcy, including high inflation and interest rates that led customers to change their purchasing behavior. They're seeking out value - but not necessarily lower costs. That's why dollar stores have been struggling while sales at Walmart and Amazon have been booming.
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