Big Lots Has Going-Out-Of-Business Sales After Filing Bankruptcy

Discount chain Big Lots is having going-out-of-business sales at their remaining locations after the company announced that they were being forced to close their doors because of high inflation and declining sales.
The Columbus, Ohio-based seller of furniture, home decor and other items, filed for Chapter 11 bankruptcy protection in early September. Private equity firm Nexus Capital Management LP had agreed to acquire “substantially all of the company’s assets.” But the chain said it didn’t think the purchasing agreement would be complete and that it will continue to work toward completing an alternative transaction with Nexus or another party.