Reported 3 days ago
Big Lots has announced plans to close all of its stores following a Chapter 11 bankruptcy filing and previous store closures. The company is initiating 'going out of business' sales but hasn't specified a timeline for these sales. CEO Bruce Thorn indicated that a company sale could potentially reverse the closures, although over 400 stores have already shut down this year. Founded in 1967, Big Lots has struggled recently to finalize a sale of its assets, leading to the difficult decision to start closing all locations.
Source: YAHOO