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.

KEY TAKEAWAYS Big Lots filed for Chapter 11 bankruptcy protections and agreed to sell itself to an affiliate of private-equity firm Nexus Capital Management.The filing by the home goods and furniture retailer follows extended sales declines and several quarters of losses at the discount retailer.

Struggling Big Lots will be acquired in a multimillion-dollar deal after the company filed for bankruptcy with up to $10 billion in debt.

Big Lots goes into bankruptcy, Cap Region stores remain open for now. Local stores are in Clifton Park, Troy, Queensbury and Amsterdam.

Struggling closeout retailer Big Lots filed for bankruptcy protection Monday, saying it's been hurt by inflation and high interest rates.

Discount retailer Big Lots has filed for Chapter 11 bankruptcy protection and ten Bay Area stores are set to close soon. Big Lots is known for selling furniture, household essentials and home decor. The Columbus,

Some locations have banners on their web pages showing closing sales are “going on now,” advising customers they can “save up to 20% off.”