COLUMBUS, Ohio — Big Lots, the discount retailer known for its variety of home goods and closeout deals, confirmed Thursday that it is preparing to close all of its remaining 963 stores nationwide, including its location in Chillicothe. The announcement follows the company’s Chapter 11 bankruptcy filing in September and its inability to finalize a sale to Nexus Capital Management, a private equity firm.
In a press release, Big Lots stated that “going out of business” sales will begin at all remaining locations, though the duration of the sales remains unclear. The Chillicothe store has not yet announced specific closure dates or sale details.
The company initially hoped to sell assets and operations to Nexus as part of its restructuring plan but failed to secure the deal. In an email shared with Nexstar, CEO Bruce Thorn indicated that the closures could be reversed if another buyer is found. Big Lots continues to explore alternative solutions to save parts of the business.
More than 400 stores have already closed this year, reducing the company’s footprint by about 30%. Challenges with inflation and increased competition from other retailers had cast “substantial doubt” on Big Lots’ future earlier in the year, leading to the bankruptcy filing.
Shoppers in Chillicothe and beyond are encouraged to take advantage of closing sales as the company winds down operations. Whether any portion of Big Lots’ business will survive remains uncertain as negotiations with potential buyers continue.
Over 500 employees at their corporate office in Ohio were notified today that their positions would be terminated.