Big Lots announces store closings
Big Lots, Inc. has announced that it is preparing to close the remainder of stores across the country. The discount retailer operates 39 outlets in Georgia, including its Dublin location.
Big Lots, Inc. has announced that it is preparing to close the remainder of stores across the country. The discount retailer operates 39 outlets in Georgia, including its Dublin location.
The announcement came after the company, which filed for bankruptcy in September, disclosed its anticipated sale to investment firm Nexus Capital Management will not be completed. Though negotiations are on going, Big Lots disclosed plans for “going out of business” sales at all locations as it seeks an agreement with Nexus or a potential new buyer.
“We have worked extremely hard and have taken every step to complete a going concern sale,” said Bruce Thorn, Big Lots’ president and CEO, in a statement. “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 did not release a timeline for shuttering its remaining stores. Big Lots operates three locations in central Georgia: Dublin, Macon and Milledgeville.
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