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A MILITARY veteran reached out to Big Lots in hopes of receiving help but was left empty handed.
The discount chain avoided responding to his question regarding the status of its military discount, tied to its ending loyalty program.
As recently bankrupt Big Lots navigates its financial troubles, one of the company’s moves has been to end its Big Lots Big Rewards program.
“Unfortunately, our Rewards program is coming to an end,” the company shared on its website.
Through the free loyalty program, members could access discounts, bonuses, and special perks by making purchases at Big Lots stores and on BigLots.com.
Although shoppers can no longer earn new rewards, they can still redeem rewards they earned before the Big Lots Big Rewards program ended in-store or online.
One of the popular perks associated with its rewards program was its in-store military discount, which offered 10% off to active-duty military, veterans, and family members.
Its tie to the ending Big Lots Big Rewards prompted one shopper to ask the company for clarification on whether or not the discount would still be available.
“Hey @BigLots, since your military discount was tied to your rewards program, and you are ending that program, does that mean that you no longer offer a military discount?” they questioned on X.
However, instead of answering the question, Big Lots asked the veteran to reach out to its customer care team, sharing a link to do so.
“Nope. It’s a simple yes or no question,” retorted the shopper. “I’ll just assume no.”
A Big Lots employee confirmed to The U.S. Sun that the military discount is no longer being offered.
BIG TROUBLE
The end of its rewards program follows years of declining sales, hundreds of Big Lots closures, and a Chapter 11 bankruptcy filing in September.
Macroeconomic pressures such as high inflation and shifts in consumer behavior hit the discount chain hard.
When Big Lots filed for bankruptcy last fall, the company owed around $3.1 billion to several creditors.
Big Lots had hopes of a second chance when it received court approval for a sale to private equity firm Nexus Capital Management in November.
How does bankruptcy work?
Bankruptcy is a specific legal process that helps companies eliminate debt they can't repay.
The process allows businesses to start fresh and gain access to new credit.
Supervised by federal courts, bankruptcies allow a company to sell off its assets more easily to pay off creditors, according to Investopedia.
Chapter 11, a common process for companies, is used to restructure a business with the goal of remaining open – even if it means selling off most of the company’s properties.
Chapter 7, on the other hand, sells all of a company’s assets, putting it out of business.
Chapter 15, alternatively, allows for collaboration between American and foreign courts to conduct bankruptcy proceedings with “parties of interest involving more than one country,” per the United States Courts.
The firm planned to buy the company and assist with restructuring but dropped out in December.
Big Lots then announced plans to close its remaining 900 or so stores, beginning to liquidate its assets and host sales at its hundreds of locations.
At the time, the company remained hopeful that the going-out-of-business process could “be reversed” if it were to secure a deal with another lender, according to Big Lots president and CEO Bruce Thorn.
In a reverse of course, Big Lots made a deal with Gordon Brother Retail Partners, LLC in late December to transfer its assets to other retailers and companies.
One of the companies, Variety Wholesalers, Inc., planned to acquire and operate between 200 and 400 Big Lots stores under the Big Lots brand.
The discount chain successfully closed its sale agreement with court approval in early January.
“We are pleased to close this strategic transaction, which provides a framework to preserve thousands of jobs, maximize value, and maintain the Big Lots brand,” said Thorn.
“We are working closely with the Gordon Brothers and Variety Wholesalers teams on this transition. We are grateful for the continued hard work and dedication of Big Lots associates across the Company.”
We are pleased to close this strategic transaction, which provides a framework to preserve thousands of jobs, maximize value, and maintain the Big Lots brand.”
Bruce Thorn
Although Big Lots has made a deal with Gordon Brother Retail Partners, the chain is still shutting down hundreds of stores.
Big Lots shoppers have spotted liquidation sales up to 40% off at a popular location.
Plus, the company is set to shut down two locations in the same state for good.
