Big Lots, Inc. will be closing all its stores across the US, including three locations in Hixson and Fort Oglethorpe. The company cited concerns over completing a previously announced asset purchase agreement with Nexus Capital Management.
Despite efforts to secure an alternative going concern transaction, Big Lots has made the decision to begin “going out of business” sales at all remaining store locations. President and CEO Bruce Thorn stated that the company is working hard to complete a sale by early January but prioritizes protecting the value of its estate.
The company’s goal is to close an alternative going concern transaction, but Thorn acknowledged the need to start GOB sales as “a precautionary measure.”
Source: https://www.chattanoogan.com/2024/12/21/496990/Big-Lots-Closing-All-Stores-Including.aspx