Big Lots Likely Closing All Missouri Stores Including Sedalia

It looks likely that Big Lots will go out of business entirely after it announced that it is unlikely to finalize a previously planned sale with Nexus Capital Management.

In a press release earlier today, Big Lots announced it's unlikely to finalize its previously planned sale agreement with Nexus Capital Management. The Company still hopes to complete a different sale with Nexus or another buyer and would like to wrap up a deal by early January.

Even though the store hopes to find a buyer and stay in business, Big Lots is preparing to begin going-out-of-business sales at its remaining locations. The company says these sales aim to protect its assets, even as it continues to find a buyer that would keep the business running.

“We’ve worked extremely hard to secure a buyer and keep Big Lots in business. While we’re still hopeful, we’ve made the tough decision to start closing sales to protect what’s left of the company," said Big Lots' President and CEO Bruce Thorn.

For now, Big Lots stores and its online store remain open to customers. The store says they'll share updates as they become available.

Get our free mobile app

Big Lots became the latest chain with stores in Missouri that sold affordable merchandise to go out of business. In November, American Freight's parent company announced that all American Freight stores were going out of business due to their bankruptcy reorganization.