Popular retail chain, Big Lots, announced plans for a going out of business sale at all remaining store locations in the coming days.The company also announced that it does not anticipate completing its purchase agreement with Nexus Capital Management, but will continue to "work toward completing an alternative going concern transaction with Nexus or another party.Their goal is to complete the sale by early January.
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," Bruce Thorn, Big Lots' President and Chief Executive Officer, said in a statement. Big Lots plans to continue in-store and online sales.
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