Popular discount retailer Big Lots announced that they are preparing to commence going out of business sales at all remaining Big Lots store locations in the coming days to “protect the value of its estate”, saying they do not anticipate completing its previously announced asset purchase agreement with Nexus Capital Management.
Bruce Thorn, Big Lots’ President and Chief Executive Officer, said, “We all have worked extremely hard and have taken every step to complete a going concern sale. While we remain hopeful that we can close an alternative going concern transaction, in order to protect the value of the Big Lots estate, we have made the difficult decision to begin the GOB process.”
The Company is continuing to serve customers in-store and online, and will provide updates as available.
