Big Lots preparing to go out of business unless sold by January [Video]

SPRINGFIELD, Mass. (WGGB/WSHM) – Retailer ‘Big Lots’ is preparing to go out of business. The announcement came on Thursday after the box store said its anticipated sale to Nexus Capital Management fell through.

If the company doesn’t finalize a deal with Nexus or another party by early January, the chain’s local stores, including the Springfield Cooley Street location, will be affected.

“It’s a little sad, I mean, this is a big store there’s a lot of stores that are going out of business,” Springfield resident Yaritza Robar said. “You try to help these little, small stores like this but it’s unfortunate.”

Thursday’s announcement coming just two months after grocery store, Stop and Shop, permanently closed their Cooley Street location.

Western Mass News spoke with Springfield Ward 7 City Councilor Tim Allen.

“They have their own business reasons for continuing to operate a store or close a store, so in both …