Big Lots, a discount retail giant, said on December 19 that it is preparing to conduct going out of business sales at all remaining stores.
Big Lots previously filed for Chapter 11 bankruptcy protection in September, after plans to liquidate 340 locations nationwide. According to a news release, Big Lots officials said that the closures were part of a selling agreement with a Nexus Capital Management LP affiliate.
The company’s most recent news release stated that authorities do not anticipate completing this asset purchase agreement, but “it continues to work toward completing an alternative going concern transaction with Nexus or another party.”
“We have all worked extremely hard and taken every step to complete a going concern sale,” CEO Bruce Thorn stated in a recent press 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.”
Several additional shops have closed operations and declared bankruptcy in 2024.
Is Big Lots closing all stores?
Big Lots has already eliminated approximately 400 shops by 2024. Now, the company is preparing to begin going out of business sales at all sites while still looking for a buyer. The company hopes to conclude a sale by early January.
On the Big Lots website, a banner now notifies visitors that all locations are shutting and that they may expect up to 25% savings throughout the whole store.
How many Big Lots stores are in North Carolina?
There are nine Big Lots locations in Western North Carolina.
- Arden, 11 Mckenna Road
- Boone, 223 New Market Center (previously slated for closure)
- Franklin, 273 Franklin Plaza Drive
- Hendersonville, 204-A Thompson St.
- Marion, 364 U.S. 70 W
- Murphy, 1450 Andrews Road
- Spindale, 1639 U.S. 74A Bypass
- Waynesville, 1176 Russ Ave.
- Weaverville, 125 Weaver Blvd.