Big Lots Holding Going-Out-of-Business Sales at All Stores in Maine, New Hampshire, & Massachusetts

Over the last few years, we have seen most major retailers make adjustments in the way they do business.

Sadly, in some cases, we have seen these chains close a number of locations.  In other cases, these companies have gone bankrupt.

It looks as though another major retailer may be headed in that direction.

Big Lots Going-Out-of-Business Sales at All New England Locations

According to an article on the WMTW, discount retailer Big Lots has announced that it will hold going-out-of-business sales at all of its remaining locations.

This includes the Augusta, Auburn, and Farmington locations in Maine.

It had previously been announced that the Brunswick location would hold a going-out-of-business sale.

READ MORE: Party City Going Out of Business and Closing All New England Stores

In addition to locations in Maine, other New England locations include five stores in New Hampshire, 17 locations in Massachusetts, two in Vermont, six in Connecticut, and one in Rhode Island.

According to the Big Lots website, there are 963 stores across the country.

Big Lots president and CEO Bruce Thorn said that the company believes these sales will not prevent the company from completing an alternative going concern transaction with Nexus.

However, Bloomberg reports that the sale fell through. It is believed that the appraised value of the stores' inventory was less than expected.

Big Lots had filed for Chapter 11 Bankruptcy Protection in September 2024.

The History of Big Lots

The store chain that we now know as Big Lots got its start in Columbus, Ohio, in 1967.  The company was formed as Consolidated Stores Corporation by a man named Sol Shenk.

In 1982, the company opened its odd lots closeout store.

Over the years, the chain expanded beyond Ohio.  By 2023, it had over 1,400 locations.  As of late 2024, there are less than 1,000 stores remaining.

Hopefully, something will be done to prevent the closure of all of the discount retailer's stores.