Discount home goods retailer Big Lots filed for bankruptcy protection as low-income shoppers slow spending on new furniture and home decor.
  • Big Lots filed for bankruptcy protection, citing stubborn inflation, high interest rates and a slowdown in consumer spending on home goods such as furniture and decor.
  • Private equity firm Nexus Capital Management has agreed to buy Big Lots for $760 million, consisting of $2.5 million in cash plus its remaining debt.
  • The home goods sector has been under pressure over the last two years after demand surged during the Covid-19 pandemic.