Big Lots to close all remaining stores, begins closure sales NBC Chicago [Video]

Big Lots is preparing to close all of its remaining locations after filing for bankruptcy three months ago, it announced in a press release Thursday.

The discount retailer will begin “going out of business” sales, or “GOB” sales, at its 963 remaining stores ahead of the closures, the press release stated. It’s unclear how long the stores will remain open.

After filing for Chapter 11 bankruptcy in September and closing 400 of its locations around the country, the Columbus, Ohio-based company announced it anticipated selling its remaining assets and business operations to private equity firm Nexus Capital Management. The sale received court approval in late October with an expected closure date of early December, but according to the press release, the company no longer expects the deal to go through.

Big Lots president and CEO Bruce Thorn said in the release that the company is still seeking out other sale options with the hope of completing …