Big Lots Files for Bankruptcy: CEO Promises 'Extreme Bargains' Will Continue, but What Will Happen to the Stores?

Big Lots.Photo:Eric Thayer/Bloomberg via Getty Eric Thayer/Bloomberg via Getty Major discount chain Big Lots has announced it is filing for Chapter 11 bankruptcy. In a statement shared with PEOPLE, on Monday, Sept. 9, the retailer confirmed it has entered into an agreement with Nexus Capital Management in which the private equity firm “has agreed to acquire substantially all” of Big Lots’ “assets and ongoing business operations.” Never miss a story — sign up forPEOPLE’s free daily newsletterto stay up-to-date on the best of what PEOPLE has to offer, from celebrity news to compelling human interest stories.

Bill Belichick Sides with Girlfriend Jordon Hudson in Feud Over Her Cheerleading Team

Photo:Jordan Hudson/Instagram Jordan Hudson/Instagram Bill Belichickis siding with his girlfriendJordon Hudsonas she defends her alma mater’s cheerleading program. Hudson put the hashtags “#DontPokeTheBears” and “#DemandingRespect” over the picture of Belichick holding up his hand to mimic a Bridgewater Bear claw. Hudson wrote on the photo that the former New England Patriots coach is “on team BSU” amid her ongoing feud with radio host Winnie Akoury of “Billy & Lisa in the Morning” on Kiss 108.

Bill Belichick's Girlfriend, 24, Shares Photos from Their Summer — Including Him in a Taylor Swift Sweatshirt!

Bill Belichick and girlfriend Jordan Hudson.Photo:Jordan Hudson/InstagramIt was anything but a cruel summer forJordon HudsonandBill Belichick!The 24-year-old former cheerleader made her relationship with Belichick, 72, Instagram official on Sunday, Oct. 6 with a carousel of images from the couple’s summer adventures — and in one photo, the former NFL coach is sportingTaylor Swiftmerch!Hudsonposteda lengthy carousel on Instagram that started with a selfie of the Bridgewater State University alum, captioning her post, “~Summation of Summer~.

Bill Clinton Says He Didn't Even Try to Bring Family Backstage at Taylor Swift Eras Tour: 'I Probably Couldn't Have'

Bill Clinton at the Democratic National Convention in Chicago on Aug. 21, 2024.Photo:Andrew Harnik/Getty Andrew Harnik/Getty Bill Clintonis buying into theTaylor Swifthype. The former president took his daughter,Chelsea; his granddaughter,Charlotte; and their friends to see Swift’sEras Tour, he admitted onLive with Kelly and Markon Monday, Nov. 25. Clinton appeared on the talk show to promote his new memoir,Citizen: My Life After the White House. “I’d never been to one of her concerts before, and it was — I get it now,” Clinton said.

Bill Lawrence Insists Daughter Charlotte Isn't a Nepo Baby as He Says He Has 'No Connections' to Music Industry (Exclusive)

Charlotte Lawrence and Bill Lawrence at the premiere of “Bad Monkey” held at the Billy Wilder Theater at the Hammer Museum on August 12, 2024.Photo:Christopher Polk/Variety via Getty Christopher Polk/Variety via Getty Bill Lawrenceis so proud of his singer-daughterCharlotte Lawrence— but he had no help in her success as a musician. TheShrinkingcreator, 55, spoke with PEOPLE exclusively at the premiere of season 2 of the series, saying that while he’s loved watching his 24-year-old daughter become more and more successful, he hasn’t been able to help her out at all as she’s pursued her music career.