Discount retailer Big Lots announced Thursday that they would close all remaining stores, months after filing for Chapter 11 bankruptcy with ensuing confusion on how many locations were closing.
Discount retailer Big Lots announced Thursday that they would close all remaining stores, months after filing for Chapter 11 bankruptcy with ensuing confusion on how many locations were closing.
The chain closed 400 locations earlier this year, with 963 stores remaining open across the country.
It's unknown how much longer those stores will remain open, according to NBC News.
According to Big Lots' website, 17 locations in Illinois remain open, though several are located in downstate Illinois.
As for the Chicago area, stores in Bourbonnais, Franklin Park and Wood Dale remain open and will be offering "going out of business" sales as the chain prepares to shutter.
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.
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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 said the company does not anticipate that the GOB sales will inhibit any potential future asset deals.
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