Big Lots to begin ‘going out of business’ sales

(CNN) – Shoppers may find some great deals soon at Big Lots as the company begins its “going out of business ” sales.

This comes as it prepares to close its remaining 963 locations after a sale to save the bankrupt retailer fell through.

In September, the company announced it was selling its assets to private equity firm Nexus Capital Management.

Big Lots said Thursday it does not anticipate completing that sale.

As a result, in the coming days, its starting “going out of business” sales at all remaining locations.

Big Lots still plans to explore other options to save the company, including negotiating with Nexus or another buyer with the aim of completing a sale by early January.

Big Lots blamed several economic factors for its bankruptcy, including high inflation and interest rates leading customers to change their purchasing behavior.

Big Lots has been closing hundreds of stores since the start of the year.

At its peak, it had more than 1,400 locations across the United States.