As we prepare to drop the curtain on the 2024 holiday shopping season, another major retail franchise has announced it will cease operations.
Big Lots is going out of business.
The retail chain had already closed around 400 locations in 2024. They followed that up by filing for bankruptcy in September.
Now comes word that they will shut down their remaining 963 locations nationwide. “Going out of business” sales are slated to begin soon at all Big Lots stores.
“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,” CEO Bruce Thorn said in a release.
He added that the plan for closing all remaining stores could be reversed if a sale of the company is completed, according to USA Today.