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What will happen to Big Lots' Ohio headquarters by end of 2025?
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Resolution / Starting Odds
Sold to another company • 25%
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Local government records and news reports
Story
Big Lots to Close All 963 Stores, Begin Going-Out-of-Business Sales After $760 Million Deal Fails
Dec 20, 2024, 02:30 AM
Big Lots, the Ohio-based discount retailer employing over 27,000 people, announced it is preparing to close all of its remaining approximately 963 locations and will begin "going out of business" sales. The company filed for Chapter 11 bankruptcy protection three months ago and had been in discussions to sell its assets to private equity firm Nexus Capital Management in a $760 million deal. However, the anticipated sale fell through, prompting the company to proceed with liquidation efforts. Big Lots had already closed more than 400 stores this year, marking a roughly 30% reduction in its footprint. The closures will affect locations nationwide, and the company is laying off 555 workers at its headquarters in Ohio.
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