Discount retail chain Big Lots to start 'going out of business' sales at all stores nationwide

[Thanks Joe Biden]

Discount retailer Big Lots is preparing to close all of its stores across
the country, including 64 locations in Pennsylvania, “to protect the value
of its estate” as it pursues a sale to a California investment firm.

In a news release Thursday, the retailer said going out of business sales
will soon occur at all remaining locations.

The retail giant hopes to conduct a “going concern transaction” with Nexus
Capital Management, the investment company behind brands like Dollar Shave
Club, Lamps Plus and Toms, according to the release.

Though Big Lots previously announced a sale to Nexus, that deal has since
been called off. It is now working to close a different deal with Nexus or
another company by early January, the release says.

Currently the chain’s website says it operates 963 stores nationwide.

Big Lots filed for Chapter 11 bankruptcy in September, according to the
U.S. Bankruptcy Court for the District of Delaware’s website.

Big Lots’ representatives were not immediately available for comment.

Originally Published: December 19, 2024 at 5:07 PM EST

https://www.mcall.com/2024/12/19/discount-retail-chain-big-lots-with-21-
maryland-locations-going-out-of-business/?itm_source=parsely-api

[Orca Winfrey]

Post by Thanks Joe Biden
Discount retailer Big Lots is preparing to close all of its stores across
the country, including 64 locations in Pennsylvania, “to protect the value
of its estate” as it pursues a sale to a California investment firm.
In a news release Thursday, the retailer said going out of business sales
will soon occur at all remaining locations.
The retail giant hopes to conduct a “going concern transaction” with Nexus
Capital Management, the investment company behind brands like Dollar Shave
Club, Lamps Plus and Toms, according to the release.
Though Big Lots previously announced a sale to Nexus, that deal has since
been called off. It is now working to close a different deal with Nexus or
another company by early January, the release says.
Currently the chain’s website says it operates 963 stores nationwide.
Big Lots filed for Chapter 11 bankruptcy in September, according to the
U.S. Bankruptcy Court for the District of Delaware’s website.
Big Lots’ representatives were not immediately available for comment.
Originally Published: December 19, 2024 at 5:07 PM EST
https://www.mcall.com/2024/12/19/discount-retail-chain-big-lots-with-21-
maryland-locations-going-out-of-business/?itm_source=parsely-api

Stolen elections have consequences.