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.

Closing more locations will allow the company to have a “more focused footprint” and conduct business efficiently, said President and CEO Bruce Thorn.

Big Lots, the beleaguered discount retailer that previously warned it had “substantial doubt” about its survival, has filed for bankruptcy.

Nearly 50 additional Big Lots stores are set to close as the company navigates through its Chapter 11 bankruptcy protection filings. The Ohio-based company announced earlier this month that it planned to sell assets and business operations to a private equity firm amid the bankruptcy filing.

Closing more locations will allow the company to have a “more focused footprint” and conduct business efficiently, said President and CEO Bruce Thorn.

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

Struggling closeout retailer Big Lots filed for bankruptcy protection Monday, saying it's been hurt by inflation and high interest rates.

The home goods chain filed for Chapter 11 protection and agreed to sell itself to a unit of the private equity firm Nexus Capital Management.

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