Delaware, Ohio – Big Lots, Inc., the Columbus-based discount retailer, announced today that it is preparing to begin going-out-of-business (GOB) sales at all its remaining store locations. This includes the Big Lots store at 159 S. Sandusky St. in Delaware, located near the campus of Ohio Wesleyan University.
The announcement comes as the company’s planned asset purchase agreement with Nexus Capital Management is unlikely to be completed. While Big Lots continues to pursue an alternative sale to preserve its operations, the GOB sales are being launched as a protective measure to safeguard the value of the company’s estate.
Bruce Thorn, President and Chief Executive Officer of Big Lots, acknowledged the challenge of the situation, stating, “We all have worked extremely hard and have taken every step to complete a going concern sale. While we remain hopeful that we can close an alternative going concern transaction, in order to protect the value of the Big Lots estate, we have made the difficult decision to begin the GOB process.”
For Delaware residents, this marks a significant moment for the local retail landscape. The Big Lots store on South Sandusky Street was renovated in 2023 and rebranded as “Big Lots Home,” dedicated to furniture and decor.
The company emphasized that its stores and online platforms remain operational, and customers can expect to find deep discounts during the liquidation sales. Updates on the process will be provided by Big Lots as more information becomes available.
Big Lots has faced increasing financial difficulties in recent years, mirroring broader struggles in the retail industry. This move, while not ruling out a last-minute sale, signals a pivotal shift for the brand.
Further details about the company’s restructuring proceedings, including how creditors can file claims, are available on a dedicated website managed by Kroll Restructuring Administration LLC: cases.ra.kroll.com/biglots. Customers and other stakeholders can also reach out via email at [email protected] or call (844) 217-1398 for assistance.
The Delaware community, like others across the country, will be watching closely as Big Lots navigates this critical period.