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.
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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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