After months of store closures and filing for bankruptcy protection under Chapter 11, Big Lots announced Thursday via a press release that it will close all of its locations.
Why is Big Lots closing?
In September, Big Lots filed for Chapter 11 bankruptcy protection shortly after revealing plans to close more than 400 stores across the United States.
At that time, the company explained that the closures were part of a sale agreement with a subsidiary of Nexus Capital Management LP. There were hopes of a possible rescue when the approval to sell most of its assets and operations to Nexus was announced.
However, in December, those expectations faded when the sale did not go through.
CEO Bruce Thorn stated that the closures could be reversed if the transaction is completed.
“We have all worked extremely hard and taken all the necessary steps to complete a pending sale. While we remain hopeful of closing an alternative ongoing business transaction, to protect the value of Big Lots’ equity, we have made the difficult decision to begin the ongoing sale process,” Thorn said in a statement.
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How many stores has Big Lots closed?
The retailer has already closed more than 400 locations in 2024. In the coming days, the company will begin liquidation sales at its remaining stores as part of its strategy to preserve the value of its assets.
How long will Big Lots’ liquidation sales last?
The company indicated that it would continue to serve customers both in-store and online, though it did not specify how long the sales would last.
What does Big Lots sell?
The store sells electronics, furniture, accessories, and hard, seasonal, and soft home goods, in addition to a variety of packaged foods such as snacks and beverages, as well as kitchen staples.
How many stores does Big Lots have in the U.S.?
After closing more than 400 stores from September of this year to date, the company currently has a total of 963 locations.
Big Lots locations
The 963 stores of this company that are still open are located in the following states of the country:
- Alabama
- Arizona
- Arkansas
- California
- Colorado
- Connecticut
- Delaware
- Florida
- Georgia
- Idaho
- Illinois
- Indiana
- Iowa
- Kansas
- Kentucky
- Louisiana
- Maine
- Maryland
- Massachusetts
- Michigan
- Minnesota
- Mississippi
- Missouri
- Montana
- Nebraska
- Nevada
- New Hampshire
- New Jersey
- New Mexico
- New York
- North Carolina
- North Dakota
- Ohio
- Oklahoma
- Oregon
- Pennsylvania
- Rhode Island
- South Carolina
- Tennessee
- Texas
- Utah
- Vermont
- Virginia
- Washington
- West Virginia
- Wisconsin
- Wyoming
Does Big Lots offer free shipping?
Yes. The company offers free shipping on orders over $59.
Can I earn rewards at Big Lots?
Yes. You can do so through the Big Rewards program, which is available only to U.S. residents aged 18 and over.
With Big Rewards, you can earn rewards, coupons, promotions, and offers. Just present your card at checkout when making a purchase. To redeem the benefit, your card must be linked to your account.
What rewards does Big Lots offer?
- $5 off any purchase of $15 or $15 off a $75 purchase after every 3 purchases.
- $10 off every $200 spent on furniture in one week.
- Exclusive member offers throughout the year.
- Free items just for being a Big Rewards member.
- A surprise offer on your birthday.
- An additional 10% off almost everything, every day, for active military members and retired veterans.
