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They’re all set to close.
Every remaining Big Lots on Long Island — as well as its 959 other locations — will commence going out of business sales, the discount retailer announced Thursday.
The company said it is taking the measure to “protect the value of its estate.” Long Island’s Big Lots locations had been teetering since the chain filed for bankruptcy in September and subsequently shuttered its locations in Centereach, Carle Place and Bay Shore.
The going out of business sales come after months of uncertainty following the chain’s Chapter 11 filing.
Big Lots noted that the going out of business sales “will not preclude it from effectuating a going concern transaction.” This essentially means that the retailer can liquidate its inventory and assets, while still retaining the possibility of selling the business or some part of it as “a going concern transaction.”
The four existing Long Island stores — in Hicksville, Copiague, West Babylon, and Holbrook — will continue operations for an undetermined period as the wind-down process begins.
Bruce Thorn, Big Lots’ president and CEO said in a press release that “in order to protect the value of the Big Lots estate, we have made the difficult decision to begin the GOB (going out business) process.”
The company will continue to serve customers in-store and online for an undetermined period, as it winds down operations.
Big Lots is among 49 retail companies to file for bankruptcy in 2024, including Red Lobster, Express and most recently T.G.I Fridays. Over 7,300 store closures have been reported this year to date, led by Family Dollar (718) and CVS (586), NBC News reported.
