Big Lots in Brooklyn Square, Jamestown (Google Maps)
Big Lots is preparing to close all of its remaining locations after filing for bankruptcy three months ago.
The discount retailer announced in a press release Thursday that it will begin “going out of business” sales at its 963 remaining stores ahead of the closures. It’s unclear how long the stores will remain open.
There are two Big Lots stores in Chautauqua County, located in Jamestown and Fredonia.
After filing for Chapter 11 bankruptcy in September and closing 400 of its locations around the country, the Columbus, Ohio-based company announced it anticipated selling its remaining assets and business operations to private equity firm Nexus Capital Management. The sale received court approval in late October with an expected closure date of early December, but according to the press release, the company no longer expects the deal to go through.
Big Lots president and CEO Bruce Thorn said in the release that the company is still seeking out other sale options with the hope of completing a deal by January. The release also said the company does not anticipate that the GOB sales will inhibit any potential future asset deals.
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