Big Lots is launching liquidation sales at all locations, including Cherry Hill, following the collapse of its restructuring efforts. The bankrupt retailer announced Thursday that its plan to sell assets for $620 million to Nexus Capital Management fell through. As a result, all remaining stores will begin going-out-of-business sales “in the coming days,” according to a company news release.
The Cherry Hill store, already slated for closure per October bankruptcy filings, remains operational for now, but no final closure dates have been announced for this or other locations. Big Lots filed for Chapter 11 bankruptcy in September, aiming to survive by closing hundreds of stores and restructuring its assets.
*Article courtesy of Patch.com
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