Columbus, OH – Big Lots, Inc. has entered a sale agreement with Nexus Capital Management LP as part of its Chapter 11 bankruptcy filing, leaving the future of 73 stores in Pennsylvania uncertain.
The company’s restructuring plan includes closing underperforming stores as it seeks to streamline operations and return to profitability by 2025. Big Lots’ leadership has stated that the deal will involve most of its assets, with Pennsylvania’s locations currently under review.
CEO Bruce Thorn noted that while many stores are performing well, closures will be necessary to improve the company’s financial stability. No specific Pennsylvania stores have been identified for closure yet.
Big Lots remains committed to serving customers through both in-store and online operations during the court-supervised process. However, the status of its 73 Pennsylvania stores will be determined as the restructuring progresses. More updates are expected later this year.
