INDIANA – Big Lots Inc. announced today that it does not expect to complete a previously announced asset purchase agreement with Nexus Capital Management.
The Bedford, Bloomington, Columbus, Jasper, and Vincennes stores are closing.
In a press release, the company expressed hope that it may still reach an alternative agreement with Nexus or another potential buyer. However, in light of the current situation, Big Lots has decided to begin going-out-of-business (GOB) sales at all of its remaining store locations, including those in Indiana, to protect the value of its estate.
Bruce Thorn, Big Lots’ President and CEO, stated, “We all have worked extremely hard and have taken every step to complete a going concern sale. 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 GOB process.”
Despite the closure of its stores, Big Lots emphasized that it will continue to serve customers both in-store and online during the going-out-of-business sales.
The decision follows previous announcements from the company earlier this year regarding the closure of several Indiana locations. The new closures include the following stores across the state:
- 6225 Allisonville Rd., Indianapolis
- 5520 Madison Ave., Indianapolis
- 1650 E. County Line Rd., Indianapolis
- 10235 E. Washington St., Indianapolis
- 6121 Crawfordsville Road, Speedway
- 4358 S. Scatterfield Road, Anderson
- 888 Green Boulevard, Aurora
- 10321 East U.S. Route 36, Avon
- 3309 16th St., Bedford
- 3620 W. 3rd St., Bloomington
- 706 E. Lewis & Clark Parkway, Clarksville
- 3075 E. 25th St., Columbus
- 720 S. Green River Road, Evansville
- 6128 Stellhorn Road, Fort Wayne
- 1538 N. Morton St., Franklin
- 1612 N. State St., Greenfield
- 2080 N. Jefferson St., Huntington
- 195 S. U.S. 231, Jasper
- 2525 E. Market St., Logansport
- 1345 Clifty Drive, Madison
- 1535 S. Western Ave., Marion
- 4110 Franklin St., Michigan City
- 420 W. McKinley Ave., Mishawaka
- 440 New Albany Plaza, New Albany
- 918 W. Lincoln Highway, New Haven
- 5960 U.S. 6, Portage
- 2000 E. Tipton St., Seymour
- 1840 E. Michigan Road, Shelbyville
- 1800 Fort Harrison Road, Terre Haute
- 4650 U.S. 41, Terre Haute
- 2323 N. Sixth St., Vincennes
Big Lots is now preparing for the closure of these additional locations while continuing to explore alternatives that could help the company recover. Customers are encouraged to take advantage of the ongoing sales and to check their local stores for final clearance discounts.
