Off-price home goods retailer Big Lots Inc. has been seeking new financing as it grapples with years of losses and dwindling liquidity, Bloomberg News reported. The Columbus, Ohio-based chain has been reaching out to bankers and investors to assess market willingness to provide a new loan. A representative for Big Lots declined to comment on the financing effort, but said that the company has taken “significant actions to enhance our liquidity,” and “will continue to evaluate potential liquidity options.” The company’s shares fell as much as 5.9% to $5.24 after Bloomberg reported the financing effort. Big Lots runs about 1,400 stores but has been monetizing them in recent years to safeguard its cash pile. That leaves it with relatively few remaining assets to offer up as backing for potential new debt, according to its corporate filings. The discount retailer inked a sale and leaseback deal for a distribution center and 26 owned stores with affiliates of Blue Owl Capital in July for gross proceeds of $318 million, according to a prior statement.
