A nationwide discount retail store chain will soon start going out of business sales.
Columbus, Ohio-based Big Lots, which has a location in White Township, announced yesterday that it does not anticipate completing a previously-announced asset purchase agreement with Nexus Capital Management, so it will start liquidation sales to protect the value of its estate. They will continue to work towards an alternative sale with either Nexus or another company.
Big Lots entered Chapter 11 Bankruptcy protection in early September. At the time, the board had ended “entering into the Sale Agreement with Nexus”, saying it was the best way forward from a business point of view.
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