EL PASO, Texas (KFOX14/CBS4) — Big Lots is set to begin “going out of business” sales at its remaining 963 locations after a deal to save the bankrupt retailer fell through.
The company announced in September that it was selling its assets to private equity firm Nexus Capital Management.
However, Big Lots said Thursday it does not anticipate completing the sale.
As a result, the retailer will start liquidation sales at all remaining stores in the coming days. Despite the setback, Big Lots plans to explore other options to save the company, including negotiating with Nexus or another buyer, with the goal of completing a sale by early January.
Big Lots attributed its bankruptcy to several economic factors, including high inflation and…
