By The Baltimore Sun’s Racquel Bazos (TNS)
In order to preserve the value of its estate while pursuing a sale to a California investment firm, discount retailer Big Lots is getting ready to liquidate all of its locations nationwide.
The firm stated in a news release on Thursday that all remaining sites will shortly experience going out of business sales.In central Pennsylvania, Big Lots operates locations in Hummelstown, Harrisburg, Camp Hill, Cleona, and Lancaster.
According to the announcement, the retail behemoth intends to carry out a going concern deal with Nexus Capital Management, the investment firm that owns companies like Toms, Dollar Shave Club, and Lamps Plus.
Despite Big Lots’ earlier announcement of a sale to Nexus, the agreement has already been canceled. According to the announcement, it is currently trying to reach an agreement with Nexus or another business by the beginning of January.
According to its website, the chain has 963 locations across the country.
This year, 315 locations nationally have already been impacted by a round of shop closures, including those in Pennsylvania.In September, Big Lots declared Chapter 11 bankruptcy.
On Thursday, officials of Big Lots were not immediately available for comment.
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