Big Lots is preparing to file for bankruptcy as it transitions to an acquisition by Nexus Capital Management, which aims to stabilize the company's financial performance.
In the process of restructuring, Big Lots plans to close some locations but assures that vendors will be paid fully once the bankruptcy is filed.
Customers can continue to earn and redeem rewards, along with using gift cards, indicating that Big Lots aims to maintain customer confidence during this transition.
Big Lots operates nearly 1,400 stores across 48 states and is taking these measures to strengthen its business for the future amidst financial uncertainty.
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