COLUMBUS, Ohio (WCMH) -- A Big Lots store in Westerville and more than five dozen other locations have been added to the company's list of shops it is closing after filing for bankruptcy.
The chain is closing its location at 60 E. Schrock Rd. in Westerville, among more than 56 stores announced for closure on Monday. This latest closure announcement means Big Lots is closing at least 550 stores nationwide, including these other Ohio locations that were previously announced as shuttering:
The updated closure list comes after the Columbus-based retailer reported a $238 million loss during its second quarter this year. Big Lots announced in September it filed for Chapter 11 proceedings in the U.S. Bankruptcy Court for the District of Delaware. As part of the court filing, the chain has entered into a sale agreement with private equity firm Nexus Capital, which will acquire all the company's assets and business operations.
Big Lots said, as part of the court-supervised sale process, the company is "continuing to assess its operational footprint," which will include closing additional stores. The company boasted that while a majority of locations are profitable, it intends "to use the tools afforded by this process to continue optimizing our store fleet in an orderly manner."
The chain is also closing its distribution center in west Columbus by the end of October, leaving nearly 400 people without jobs. The company had filed a notice to the City of Columbus earlier in the week, which did not provide a reason for closing the center at 300 Phillipi Road.
Late last month, Big Lots was aiming to fight off bankruptcy by offering big discounts on Halloween costumes and decorations. The chain bought its "biggest extreme bargain Halloween closeout ever" from a "well-known national party supply retailer's overstock" that was originally valued at $11 million. The deal includes hundreds of new Halloween items that will be sold for 50 to 70% less than their original prices.
