Big Lots Announces Closures: What Does This Mean For Shoppers?
Bad News for Bargain Hunters: Big Lots to Shutter All Stores
Local shoppers who rely on Big Lots for affordable deals are in for some tough news. On Thursday, Big Lots, Inc. announced it will be closing all of its stores, including three locations right here in our area. The stores impacted are located in Hixson on Gunbarrel Road and in Fort Oglethorpe.
Going Out of Business Sales Imminent
While deeply regrettable, the company stated this decision comes as part of a plan to "protect the value of its estate." In the coming days, going out of business sales will begin at all remaining Big Lots locations nationwide. The company believes these sales will support any potential future transactions that could keep the business afloat.
A Hopeless Situation?
Bruce Thorn, Big Lots’ president and chief executive officer, expressed the company’s struggle in a statement: "We all have worked extremely hard and have taken every step to complete a going concern sale. 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 GOB process.”
It appears that even though they are hopeful, the path forward seems bleak. The closing of all stores signals a massive blow to bargain hunters who relied on Big Lots for its unique selection of discounted merchandise.
What This Means for You
The closure of Big Lots stores in our area leaves a gap in the market for discount shopping. Local shoppers will have to look elsewhere for deals on furniture, home goods, and other merchandise.
Looking for alternatives? Let us know in the comments!