Big Lots Announces All Stores Are Closing
December 19, 2024
After filing for Chapter 11 bankruptcy protection and closing hundreds of stores, Big Lots is preparing to close all of its locations, the company confirmed on Thursday.
In a press release, the company said it will begin “going out of business” sales at all of its remaining locations, totaling 963 as of Thursday, after failing to complete its previously announced sales to Nexus Capital Management, a private equity firm.
The closing includes Big Lots in Greenville, Paris and Mount Pleasant.
In an email to employees that was shared with Nexstar, president and CEO Bruce Thorn said that the pending store closures could “be reversed if we successfully complete a sale.” Big Lots is continuing its “efforts to secure an alternative deal with Nexus or another party that would enable us to preserve a significant part of our business going forward.”
More than 400 Big Lots stores have already closed this year, marking a roughly 30% reduction in its footprint.