Big Lots to Close 19 More Stores as Bankruptcy Restructuring Continues

The retailer, under Chapter 11 bankruptcy, has announced additional closures across eight states while working to stabilize its financial position.

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.