Big Lots is warning investors that it might not be around much longer.
The discount chain, in a filing with the Securities and Exchange Commission (SEC), warned there was “substantial doubt about the Company’s ability to continue as a going concern.” Big Lots has reported net losses and burned up its cash reserves in 2022, 2023 and the first quarter of 2024. In May, it reported a quarterly loss of $205 million, citing ”a continued pullback in consumer spending by our core customers, particularly in high ticket discretionary items."
