Economic Attack! A Massive Retailer Files For Bankruptcy Due to Inflation


Inflation has forced a large retailer to resort to unpleasant bankruptcy proceedings just as it is about to shutter additional shops.

Big Lots, a retailer of low-priced household items, is preparing to shutter further locations this year and may go out of business entirely.

The 1,400+ shop corporation based in Ohio revealed its terrible financial results in a June SEC filing and announced plans to eliminate 35–40 stores this year, adding to the 52 stores it shuttered in 2023.

According to the report, Big Lot’s net sales for the first quarter of 2024 were $114.5 million lower than the first quarter of 2023, a reduction of 10.2%.

Big Lots’ report claimed that “elevated inflation” had reduced consumers’ “buying power” leading to significant financial losses and “substantial doubt” over the company’s future viability.

Since 2022, when it began to lose money consistently, the popular shop has relied on its shrinking cash reserves.

A possible insolvency has been prompted by this.

According to the New York Post, Big Lot’s stock price has dropped 84% since this time last year and 52% in the previous month.

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