Big Lots to Shut Down All Locations Amid Failed Sale
December 23, 2024 - 00:53
Big Lots is set to close all of its remaining 963 stores following the collapse of a potential sale aimed at rescuing the struggling retailer. In September, the company had entered into an agreement to sell "substantially all" of its assets to Nexus Capital Management. However, the deal ultimately fell through, leading to the decision to liquidate.
In a statement released on Thursday, Big Lots confirmed the unfortunate news, indicating that the company would soon initiate “going out of business” sales across its locations. The closures mark a significant downturn for the retail chain, which has faced ongoing financial difficulties exacerbated by changing consumer habits and increased competition in the market.
Employees and customers alike are now bracing for the impact of the closures, as the company prepares to wind down operations. The liquidation process is expected to unfold in the coming weeks, with discounts on merchandise as the stores aim to clear out inventory before shutting their doors for good.
MORE NEWS
August 1, 2026 - 21:45
Delaware, Texas have highest business bankruptcy filings in U.S.New data shows a sharp rise in business bankruptcy filings across the United States, with Delaware and Texas recording the highest numbers in the country. The overall increase nationwide has...
August 1, 2026 - 09:57
Jim Cramer Is Sad About nternational Business Machines Corporation (NYSE:IBM)’s PerformanceJim Cramer has long been a cheerleader for International Business Machines Corporation, but even he is having a hard time spinning the recent stock action. Shares of the tech giant have tumbled 23...
July 31, 2026 - 19:46
Skimming devices caught on camera at small businesses in NJ, PhillySmall business owners in the Philadelphia region are on alert after several skimming devices were discovered attached to payment terminals at stores in Gloucester County, Camden County, and...
July 31, 2026 - 00:00
Small businesses squeezed by Trump's tariffs turn to risky cash advancesA growing number of small business owners are turning to merchant cash advances to stay afloat, a sign that President Donald Trump`s tariffs are squeezing operations that were already running on...