(LOOTPRESS) – Big Lots, the discount retail chain, has announced the commencement of going-out-of-business sales across all its remaining 963 stores. This development follows the company’s Chapter 11 bankruptcy filing in September 2024 and the subsequent collapse of a planned sale to Nexus Capital Management LP.
The company had initially intended to sell its assets to Nexus Capital Management; however, that deal is no longer expected to proceed. As a result, Big Lots has begun liquidation sales at all its locations to preserve the company’s value while it continues efforts to secure an alternative deal with Nexus or another party. 
In an email to employees, Big Lots indicated that more than 400 stores have already closed this year, marking a roughly 30% reduction in its footprint. 
Big Lots’ financial challenges mirror a broader trend in the retail industry, with several chains facing similar fates due to shifting consumer behaviors and economic pressures. Notably, Sears is closing its last remaining store in Washington state, and Party City is at risk of a second bankruptcy in two years. 
Customers interested in the liquidation sales can expect varying discounts by product and category. For specific pricing details, shoppers are advised to refer to in-store signage or consult with sales associates. 
As Big Lots proceeds with the closure of its remaining stores, the company continues to explore alternative transactions in hopes of reversing its current course. However, unless a viable alternative emerges, the liquidation sales will proceed until all inventory is sold and the stores are permanently closed.
