[Daily Mail, where America gets its news] A nationwide discount homeware chain with almost 1,400 stores is the latest to warn of money problems.
Big Lots has told financial regulators it may not be able to continue as a 'going concern' - raising the risk of store closures and bankruptcy.
The Columbus, Ohio-based chain has seen its takings fall consistently for each of the past ten quarters. And it lost an eye-watering $132milloin in the first three months of 2024.
Managers of its stores say they are not surprised. They have complained that the company's bosses at HQ send truck-loads of products that customers don't want.
In a recent filing with regulators, Big Lots said that the losses so far this year - on top of further losses in 2022 and 2023 - meant it had used up most of its spare cash. Retailers need money in the bank to cover the cost of stock. |