Bussiness
Is Big Lots closing in Delaware? Company announces ‘going out of business’ sales
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Going-out-of-business sales are expected to begin at all Big Lots stores – including those in Delaware – in the coming days as the company closes its businesses, according to an announcement Thursday.
The retailer filed for Chapter 11 bankruptcy protection in September and closed 340 stores, though none in the First State. The closures were part of a sale agreement with an affiliate of Nexus Capital Management LP, which Big Lots has since announced likely will not be completed.
The company said it still “continues to work toward” an alternative going concern transaction with Nexus or another party. CEO Bruce Thorn said the closures could be reversed if a company sale is completed.
Big Lots has five Delaware stores located in the Wilmington area, New Castle area, Seaford, Dover and Milford. The stores are still open, and no exact closure dates have been released.