As Big Lots Plans to Close Remaining Stores, Here are the Affected Illinois Locations
Big Lots to Close Remaining Stores
Discount retailer Big Lots announced that they would close all remaining stores, months after filing for Chapter 11 bankruptcy, leaving customers in confusion over which locations would be impacted.
Previous Closures
The chain closed 400 locations earlier this year, leaving 963 stores remaining across the country.
Uncertain Future for Remaining Stores
It is unclear how long the remaining stores will remain open, according to NBC News.
Affected Illinois Locations
According to Big Lots’ website, 17 locations in Illinois remain open, with several located in downstate Illinois.
Chicago Area Stores
Stores in Bourbonnais, Franklin Park, and Wood Dale remain open and will be offering “going out of business” sales as the chain prepares to shut down.
Company’s Bankruptcy and Sale Process
After filing for Chapter 11 bankruptcy in September and closing 400 of its locations around the country, the Columbus, Ohio-based company said 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.
New Development
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 a deal by January. The release also stated that the company does not anticipate that the GOB sales will inhibit any potential future asset deals.
Conclusion
Big Lots’ decision to close its remaining stores comes as a surprise to many, leaving customers wondering what the future holds for the company. With the sale process uncertain, it remains to be seen what will become of the remaining stores.
FAQs
* How many Big Lots stores are closing?
+ All remaining stores
* How many Big Lots stores were closed earlier this year?
+ 400
* How many Big Lots stores remain open in Illinois?
+ 17
* What is the current status of the sale process?
+ The company is seeking alternative sale options, with the hope of completing a deal by January.
