Big Lots declares "Going out of Business" sales at every location because they are having trouble finding a buyer following their bankruptcy filing.

Under a previously disclosed arrangement, the company had sought to sell Nexus Capital Management the majority of its assets. Big Lots has now stated that it is looking into alternative purchasers and does not anticipate concluding the transaction with Nexus. In order to safeguard its remaining assets, the corporation has started GOB sales, which it hopes to finish by early January.

Bruce Thorn, CEO of Big Lots, described the difficult choice, stating that although they had to begin the GOB process to preserve the company's value, they had put a lot of effort into finding a buyer to keep the firm operating.

Big Lots had intended to shut 35–40 locations prior to declaring bankruptcy, but that figure swiftly increased to hundreds. Currently, the corporation employs over 30,000 people and has around 1,400 locations throughout the United States.

Big Lots reported a steep dip in sales in its second-quarter financial report, earning $1.05 billion, which is more than 8% less than the previous year. Additionally, the business disclosed a quarter-end net loss of around $238.46 million.

Famous for its reasonably priced furniture, seasonal goods, and home goods, Big Lots is currently facing an uncertain future as it closes its doors and looks for a way to move forward.