Overview

• Big Lots has filed a fifth notice of store closures, adding 19 locations to its list of shuttered stores as part of its Chapter 11 bankruptcy process.
• The closures span eight states, with California being the most affected, followed by Texas, Oregon, Florida, and others.
• Since filing for bankruptcy in September 2024, Big Lots has announced plans to close over 500 stores, citing significant debt and declining sales.
• The company is being acquired by Nexus Capital Management, with the sale expected to finalize by the fourth quarter of 2024, including $707.5 million in financing.
• Despite the closures, Big Lots plans to maintain operations at profitable locations and continue paying employees and vendors during its restructuring.