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(Bloomberg) -- Off-price home goods retailer Big Lots Inc. has been reaching out to prospective investors to gauge interest in providing a new loan that would be backed by assets like the companys leases, according to people with knowledge of the matter...
The Columbus, Ohio-based chain needs more money despite receiving a loan earlier this year for up to $200 million..
Big Lots has suffered from years of same-store sales declines..
The discount chain has recently renewed its focus on extreme bargains and closeout sales after an emphasis on furniture backfired amid a decline in new home sales and renovations..
Big Lots is also examining whether it can sub-lease certain locations to bring in more cash, the people said.. Representatives for Big Lots didnt respond to requests for comment...
