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.

Big Lots, which started the year with nearly 1,400 stores in 48 states, now expects to close nearly 400 locations, a rapid escalation from June when it initially said it would close 35 to 40 stores. It has enlisted Melville, New York-based A&G Real Estate Partners to sell the leases for 296 of those now nearly 400 closing stores.

U.S. discount retail chain Big Lots filed for bankruptcy, becoming the latest retail casualty as consumers reined in spending after a postpandemic surge.

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.”