December 20 – UPDATED AT 12:16 PM:
It was business as usual at Lewiston’s Big Lots store Friday, despite a news release on the national chain’s website that all stores were closing.
Big Lots does not believe it will complete a previously announced purchase agreement with Nexus Capital Management, according to a Big Lots press release issued Thursday.
“The company is preparing to begin suspending sales at all remaining Big Lots retail locations in the coming days to protect the value of its estate,” the release said.
Big Lots is still working on an alternative transaction with Nexus or another party.
“The company believes that the sale (bankruptcy) will not prevent it from consummating a going concern transaction,” the press release said.
Employees at Lewiston’s Big Lots said they had heard that all Big Lots would close, but were not given details, such as when the Lewiston store would close. There was no banner outside the store announcing a sale as of Friday morning.
But there was a banner on Big Lots’ national website that read, “All stores closing. Save up to 50% off entire store now.” This included categories such as furniture, toys, groceries and health and wellness.
Going forward, Big Lots will provide updates as it continues to serve customers online and in its physical stores, the news release said.
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Big Lots is one of the nation’s largest closeout retailers focusing on “extreme value” home purchase items such as furniture, decor and inventory items through closeouts, liquidations and overstocks, according to the press release.
The Lewiston store is one of more than 950 in more than 45 states. The Idaho and Washington locations include Coeur d’Alene and Kennewick.
Big Lots debuted in 2012 at the Lewiston Center Mall, in a spot that housed Sears before it left the mall.
When Big Lots arrived, it had an inventory so varied that someone could outfit an entire house with furniture and decor from the shelves, according to one of its managers.
Big Lots’ departure from the mall comes at a time when commercial space tenants are changing.
A remodeling project for a 40,000-square-foot Hobby Lobby is on track to be completed on time for spring, but an opening date has not yet been set, Billy Jeffrey Scharnhorst, the mall’s manager, said in a text.
