Public announcements from Big Lots and news reports confirming store closures

Big Lots to Close All 963 Stores, Starting 'Going Out of Business' Sales After Chapter 11 Bankruptcy, Impacting 27,000 Employees

Dec 19, 2024, 06:31 PM

Big Lots, the discount retailer employing over 27,000 people, is set to begin 'going out of business' sales at all of its 963 locations after failing to secure a buyer following its Chapter 11 bankruptcy filing. The company confirmed that it will close all remaining stores, a move that comes after the collapse of a proposed sale to private equity firm Nexus Capital Management. This decision follows the closure of hundreds of stores earlier this year, resulting in a roughly 30% reduction in its retail footprint. The liquidation efforts aim to preserve the company's value during the bankruptcy process.