03:56 PM EDT, 07/25/2024 (MT Newswires) -- Big Lots ( BIG ) is reaching out to potential investors for a lease-backed loan, Bloomberg reported Thursday, citing people with knowledge of the matter.

Big Lots ( BIG ) needs additional cash even after getting a loan of up to $200 million earlier this year. The company has been facing years of declining same-store sales, the report added.

The company is also exploring options to sub-lease certain locations to raise more capital.

Big Lots ( BIG ) did not immediately respond to MT Newswires' request for comment.

Big Lots ( BIG ) shares were up almost 5% in recent trading.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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