Big Lots has announced plans to permanently lay off up to 555 employees from its Columbus corporate headquarters, in addition to going-out-of-business sales at all its locations. The layoffs are expected to begin on December 29 and be completed by April 2025.
The retailer filed for Chapter 11 bankruptcy protection earlier this year, citing inflation and competition as major challenges. Although an asset sale had been agreed upon to keep the business afloat, it has since fallen through.
Despite this setback, Big Lots is still working to sell the brand and some of its remaining stores under new ownership, known as a “going concern” sale. The goal is to complete this sale by the end of January 2025.
The affected employees are not unionized, and the layoffs will impact the company’s operations in Ohio. Over 100 locations remain open in the state, including over two dozen in Northeast Ohio, which will soon begin selling off their stock.
Source: https://fox8.com/news/big-lots-to-lay-off-up-to-555-employees-as-it-prepares-going-out-of-business-sales