Big Lots is starting going-out-of-business sales. Here’s where to find deals in the Philly area.
The discount retailer's inventory of furniture, outdoor supplies, holiday decor, children’s toys, makeup, toiletries, and more is up to 25% off, after a sale of the company fell through last week.
A potential sale of Big Lots fell through last week, leading the discount retailer to announce going-out-of-business sales at all its stores, including about a dozen in the Philadelphia area.
The Ohio-based chain filed for bankruptcy in September, and was set to be sold to Nexus Capital Management. The company is still working to strike a deal with Nexus or another buyer by early January, according to bankruptcy documents.
Bruce Thorn, the company’s president and CEO, said in a statement that executives remain “hopeful” that they can close another sale. But “in order to protect the value of the Big Lots estate, we have made the difficult decision to begin the GOB [going-out-of-business] process.”
Online Monday, the retailer advertised discounts of up to 25% off its entire inventory — everything from furniture and outdoor supplies, to Christmas decor and children’s toys, to makeup and toiletries.
Big Lots’ going-out-of-business sales started just days before Party City, the event-decor chain based in Bergen County, announced it was filing for its second bankruptcy in two years and closing all stores.
» READ MORE: Party City is going out of business and closing these Philly-area stores
Over the summer, Big Lots announced a slate of store closures, including locations in Philadelphia, Clifton Heights, Exton, and Kennett Square, amid inflationary pressures and declines in consumer spending. Since then, the company has closed 340 stores, including 18 in Pennsylvania and New Jersey.
Given the latest news, the following Big Lots stores are also on the chopping block, barring a sale:
15501 Bustleton Ave., Philadelphia
949 Church Rd., Cherry Hill
1075 Mantua Pike, West Deptford
2644 DeKalb Pike, Norristown
4355 U.S. Route 130 Suite A, Beverly
465 Berlin Cross Keys Rd., Sicklerville
648 E. Main St., Lansdale
1636 New Jersey Route 38, Lumberton
270 Schuylkill Rd., Phoenixville
709 Pennsylvania Route 113, Souderton
500 Lincoln Highway Suite 4, Fairless Hills