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.

The Top 100 retailer's president and CEO believes the company has the right plan and right direction as it navigates the Chapter 11 process.

Discount retailer Big Lots has filed for Chapter 11 bankruptcy protection, weeks after the discount furniture store said it planned to close hundreds of stores.

The number of Big Lots Inc. stores closing is growing again. The Columbus-based retailer, which is in the midst of a Chapter 11 bankruptcy case and could have a new owner next month, added 48 more stores to the already 344 locations slated to close. The new round of stores was disclosed in a court filing late last week.

Big Lots is planning to close stores as it goes through Chapter 11 bankruptcy. A store in Maryland left BI confused about the retailer's purpose.