Big Lots Files for Bankruptcy

The giant retail company Big Lots has announced its declaration of bankruptcy after years of market overcompetition and dwindling sales numbers.

The Ohio-based company obtained a contract from Nexus Capital Management LP to continue its business in return for a large stake in the company.

Big Lots is a commercial giant mainly selling groceries at low prices for its consumers. After years of constantly declining sales revenue and investor enthusiasm for the company, its period of financial independence has finally come to an end.