After announcing the closure of hundreds of stores and filing for Chapter 11 bankruptcy, Big Lots will have “going out of business” sales.
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The company will begin “going out of business sales” at all of its remaining locations in the coming days after failing to complete its previously announced sale to Nexus Capital Management, according to a media release.
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“We all have worked extremely hard and have taken every step to complete a going concern sale. While we remain hopeful that we can close an alternative going concern transaction, in order to protect the value of the Big Lots estate, we have made the difficult decision to begin the GOB process,” Bruce Thorn, Big Lots’ President and Chief Executive Officer said.
As News Center 7 previously reported, more than 300 Big Lots stores nationwide are being closed, including one in Centerville and another in Saint Mary’s.
We will continue to follow this story.
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