Summary:
- Big Lots, a major discount retail chain in the United States, has filed for Chapter 11 bankruptcy protection and plans to close all of its 1,400 stores across the country.
- The company cited challenging economic conditions, including high inflation and supply chain issues, as the primary reasons for its decision to file for bankruptcy.
- The closure of Big Lots stores will result in the loss of thousands of jobs, and it highlights the ongoing struggles faced by traditional brick-and-mortar retailers in the face of competition from e-commerce giants.