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Big Lots closing? What the going out of business sales mean for NJ, Pa stores
Big Lots store closures: What you should know
Big Lots plans to close more than 340 stores, highlighting economic challenges facing large retailers.
The discount department store chain that had planned to close 500 stores across the country is now starting going out of business sales at all 900-plus locations.
The discounts, available at the dozens of Big Lots stores in New Jersey, Delaware and Pennsylvania, were announced the same day the chain said a deal to sell the business had fallen through.
Here’s the latest on Big Lots’ closing sale and what it means for you.
Is Big Lots going out of business?
Big Lots’ leadership said in press release issued the week before Christmas that it plans to order steep discounts at all stores in hopes of salvaging the brand’s value.
The chain, which over the past few months has steadily increased the number of stores it planned to close, had been in talks to sell the business to Nexus Capital as part of a bankruptcy deal.
But, the deal is off, Big Lots said Thursday, and the closing sales are on.
“The company is preparing to commence going out of business sales at all remaining Big Lots store locations in the coming days to protect the value of its estate,” read a portion of Big Lots’ press release.
The release does not say all remaining stores will be shut down, however.
Big Lots’ leadership didn’t specify when the going out of business sale would begin, but when it does, you can expect to see related signage at Big Lots locations in New Jersey and elsewhere.
Damon C. Williams is a Philadelphia-based journalist reporting on trending topics across the Mid-Atlantic Region.
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