The retail sector suffered more significant bankruptcy filings in 2024 after facing several notable Chapter 11 cases in the previous year. Some big-name retail chains that filed Chapter 11 this year and continue in business include mall-based clothing retail chain Express and fabric and crafts store Joann.

The discount retailer Big Lots has filed for Chapter 11 bankruptcy protection as it blames high inflation and interest rates.

Discount department store chain Big Lots entered into Chapter 11 bankruptcy protection on Monday and announced a sales agreement to Los Angeles-based investment group Nexus Capital Management.

Closing more locations will allow the company to have a “more focused footprint” and conduct business efficiently, said President and CEO Bruce Thorn.