Big Lots Announces Going-Out-of-Business Sales at Remaining Locations

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We adhere to structured guidelines for sourcing information and linking to other resources, including scientific studies and medical journals.Walgreens Is Closing More Storesby the end of the following year. This past September, the company filed for Chapter 11 Bankruptcy and shared plans to enter into a sale agreement with Nexus Capital Management LP. Things were briefly looking up when just last week, Big Lots said that it would keep open 15 stores that were previously slated to close.

Therefore, in the coming days, the discount retailer will commence going-out-of-business sales at all remaining stores "to protect the value of its estate.", Big Lots says, "% off sales in closing stores will vary by product and/or product category. Refer to in-store signing or ask a sales associate for pricing details."recently shared that local Big Lots liquidation sales saw discounts of 10 or 20 percent.

Also, on its website, Big Lots states, "When a closing store will permanently close is based on available remaining inventory. We are unable to provide an exact date of a store's closure."However, Big Lots is remaining somewhat optimistic about its future. In fact, the company said it "continues to work toward completing an alternative going concern transaction with Nexus or another party," which it hopes to complete by early January, according to the press release.

"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," said Big Lots president and CEOBut there is much work to be done.

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