Another nationwide chain store is falling to Bidenomics. Customers have only so much money to spend, prices are high, and times are tough. While Big Lots announced major closings in July of this year, that was insufficient to keep them solvent. Big Lots has announced the closing of All their stores.
In a press release last week, Big Lots announced that it is closing all of its stores. Before closing the stores, it is hosting huge sales of the remaining items in stock. The Company believes that the going-out-of-business sales will not preclude it from effectuating a going concern transaction.
Markdowns
While shoppers may not see immediate 90% markdowns, they can see 20% off sales throughout the current inventory. Holiday items are marked further down. Until the distribution centers unload all of their inventory, local stores will continue to mark down what is in each store. A tentative final closing date will be in February. Shoppers are already taking advantage of the discounts while stocking up. Standard items sell quickly.
Statements
The Company is continuing to serve customers in-store and online, and will provide updates as available.
