Big Lots preparing going-out-of-business sales at all remaining locations We have made the difficult decision to begin the GOB process," Big Lots CEO said
Big Lots! store on Colonial Drive in Orlando. (Donovan Myrie, Copyright 2024 by WKMG ClickOrlando - All rights reserved.)
COLUMBUS, Ohio – Big Lots announced on Thursday it would be beginning going-out-of-business (GOB) sales at all remaining locations across the United States.
This is due to a failure to complete their purchase agreement with Nexus Capital Management , according to a statement from Big Lots.
The company said it would continue to try to make an alternative agreement work with Nexus or “another party.”
The sale would need to go through by early January, Big Lots said.
Big Lots' President and CEO, Bruce Thorn, 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.”
As of now, the six locations in the San Antonio area will continue to remain open.
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Copyright 2024 by KSAT - All rights reserved.
About the Author Avery Meurer headshot
Avery Meurer is a Content Gatherer for KSAT 12. She graduated from the University of Texas at Austin with a Bachelor of Science in Communications/Radio, Television and Film, as well as a Creative Writing Certificate. A native San Antonian, Avery attended the Northeast School of the Arts (NESA) majoring in musical theater and creative writing.
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