HUNTINGTON, WV (LOOTPRESS) – Big Lots has announced that its Huntington store will close as part of a larger bankruptcy restructuring plan, which includes the closure of nearly 50 additional stores nationwide.
The company, which filed for Chapter 11 bankruptcy protection in September, intends to close more than 344 stores across the United States.
As part of a sale agreement with an affiliate of Nexus Capital Management LP, Big Lots aims to streamline its business and shore up finances, according to a company news release.
The company has also filed court motions to ensure employee pay and benefits continue without interruption and that essential vendors are compensated to maintain operations.
Since July, over 50 Big Lots stores have already been removed from the chain’s online list of locations, indicating the accelerated pace of closures.
In total, Big Lots plans to close 344 stores, with only 16 remaining in West Virginia, including those in the Charleston and Beckley areas.
