Big Lots appeals to deal seekers, billing itself as a place that delivers "bargains to brag about on everything for the home, including furniture, décor, pantry and more." "We all have worked extremely hard and have taken every step to complete a going concern sale," Big Lots CEO Bruce Thorn said in a statement. "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 [going out of business] process." Big Lots filed for bankruptcy protection in September, saying it intended to sell its business to Nexus. In August, Big Lots announced its intention close up to 315 stores, and in October disclosed plans to shut down another 56 locations in 27 states. U.S. retailers have announced more than 7,100 store closures through the end of November 2024, a 69% jump from the same time last year, according to recent data from research firm CoreSight.