Big Lots is starting 'going out of business' sales at all of its remaining stores across the United States after a possible deal to sell the company to Nexus Capital Management fell through.The company says it will continue to effort an 'alternative going concern transaction' with Nexus or another company, but with no deal in sight, it is beginning the 'GOB process.
' 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 has previously closed several locations as it went through the bankruptcy process, though some locations appear to remain open, according to Big Lots' website. It's unclear how long the remaining locations would stay open if a sale is not complete.
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Big Lots Prepares for 'Going Out of Business' Sales After Sale Deal Falls ThroughBig Lots announced Thursday that its anticipated sale to Nexus Capital Management has fallen through. As a result, the retailer is preparing to host 'going out of business' sales at all remaining stores. However, Big Lots remains hopeful and is continuing to work towards completing an alternative transaction with Nexus or another party.
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Big Lots to Begin 'Going Out of Business' Sales After Bankruptcy FilingBig Lots, a discount retailer, will start 'going out of business' sales at its remaining stores. This comes after the company filed for bankruptcy and failed to complete a sale to Nexus Capital Management. Big Lots CEO Bruce Thorn stated that the company is still pursuing other sale options and hopes to finalize a deal by January.
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Big Lots Prepares for 'Going Out of Business' Sales After Sale Falls ThroughBig Lots, facing the collapse of its sale to Nexus Capital Management, is preparing to shut down all its remaining stores. The company will initiate 'going out of business' sales.
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Big Lots to Begin 'Going Out of Business' Sales as Sale Falls ThroughDiscount retailer Big Lots will initiate 'going out of business' sales at its remaining 963 stores, following the collapse of its planned sale to Nexus Capital Management. The company, facing bankruptcy, hopes to secure an alternative deal by January.
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Big Lots Announces 'Going Out of Business' Sales as Sale Deal Falls ThroughDiscount retailer Big Lots will begin 'going out of business' sales at its 963 remaining stores following the collapse of a potential sale to Nexus Capital Management. The company filed for bankruptcy in 2024 and previously closed 400 locations.
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Big Lots to Begin 'Going Out of Business' SalesBig Lots, facing closure after bankruptcy, will initiate 'going out of business' sales at its remaining stores. The retailer is actively seeking alternative sale options but may proceed with closures if a deal is not reached.
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