Big Lots, a US-based discount retailer, is liquidating its stores and holding “going out of business” sales nationwide after a deal with its buyer fell through. The company had filed for Chapter 11 bankruptcy earlier this year but is continuing to explore other avenues.
The chain has already closed hundreds of locations in 2024 and transferred ownership to private equity firm Nexus Capital Management. However, the deal with Nexus failed, prompting Big Lots to hold sales at all its 908 locations. Discounts range from 25% off everything in store to up to 50% off items during going out of business sales.
Big Lots has closed over 580 locations nationwide and is among US retailers that have closed the most stores in 2024. The company’s bankruptcy filing followed its announcement that it would close all brick-and-mortar locations, which is now happening with going out of business sales at each store.
Source: https://www.nj.com/business/2024/12/big-lots-is-going-out-of-business-and-holding-a-major-sale-before-closing-its-908-stores.html