Big Lots announced in August it would close stores across the U.S.
Two closures were included for the Middle Tennessee area- Madison and Franklin. Now, the company has shared that the deal it was previously attempting to close with Nexus Capital Management will not take place.
In light of that news, the company is preparing for going out of business sales at all remaining Big Lots store locations in the coming days.
In a release, 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.”
A recent social media post says that Big Lots’ previously advertised promotions are canceled but shoppers can get up to 25% off in store, 50% off Christmas decor and 50% off online.
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