My investment thesis on Big Lots (BIG) was based on the retailer's transformation from overstock and close-out discount retailer to a non-traditional discount retailer with a strong focus on furniture and home. Certainly, there have been pressures and challenges in that industry. Under a new CEO and attempting to infiltrate a more upscale consumer base, Kirkland (KIRK) has been weighed down by fewer sales on lower traffic and now trades in the $1 range. Pier 1 Imports (PIR) filed for bankruptcy in February. But Big Lots was looking to materialize on the market disruptions and