Big Lots, a discount retail chain, has announced that it will close all its stores nationwide as part of its bankruptcy restructuring. The company had previously filed for Chapter 11 bankruptcy protection in September with plans to close over 340 stores across the country. However, officials now plan to begin going out of business sales at all remaining store locations.
The company is still searching for a buyer and aims to complete a sale by early January. Until then, customers can expect significant discounts of up to 25% off throughout its entire stores. The chain has already closed over 400 stores in 2024, with nine locations in the Upstate region of South Carolina, including Greenville, Spartanburg, and Simpsonville.
This decision comes as several other retailers have faced similar challenges throughout 2024, and Big Lots’ CEO Bruce Thorn stated that they worked hard to complete a going concern sale but ultimately made the difficult decision to begin the GOB process to protect the value of the company’s estate.
Source: https://eu.greenvilleonline.com/story/news/local/2024/12/23/big-lots-going-out-of-business-sales-33-sc-stores-closing/77183061007