Big Lots announces more going out of business sales as chain starts to shut down
After months of store closures and filing for Chapter 11 bankruptcy protection, Big Lots is preparing to close all of its locations, including the two remaining in Northern Nevada, according to a press release the company sent Thursday.
Reno's two Big Lots locations were among more than 400 that closed in 2024, with the remainder set to hold going out of business sales.
In September, Big Lots filed for Chapter 11 bankruptcy protection weeks after announcing plans to close 340 stores across the United States.
The company said at the time that the closures were part of a sale agreement with an affiliate of Nexus Capital Management LP, according to a news release. But that sale failed to go through.
Big Lots is one of several companies that had closures in 2024 nationwide. Experts noted economic strain and consumer habit changes as reasons this year saw more closings than openings.
Will the Big Lots in Sparks, Carson City close?
The two Big Lots in Reno (one in Lemmon Valley and one on South McCarran Boulevard) have already closed after going out of business sales this fall.
Big Lots in Carson City and Sparks remain open but will close as well if nothing reverses Big Lots' decision to begin the closure process.
"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 (going out of business) process," Bruce Thorn, Big Lots' president and chief executive officer, said in a statement.
As a result, the Sparks and Carson City Big Lots locations should have going out of business sales soon.
What is Big Lots?
Big Lots began as Consolidated International Inc., a company founded in 1967 by Sol Shenk in Columbus, Ohio. The discounted retail store rebranded as "Big Lots" in 2001.