Last week, we reported that the Big Lots at 20926 Frederick Rd in the Milestone Shopping Center, Germantown, will be permanently closing. On Friday, the store began its closing sale, offering discounts of up to 20% on select items. The discounts are expected to increase as the store approaches its anticipated closure, likely right after Christmas.
The discount home goods retailer filed for Chapter 11 bankruptcy protection on September 9, and revealed plans to shutter over 300 stores. CNBC reports that Big Lots agreed to sell its business to private equity firm Nexus Capital Management for approximately $760 million, which includes $2.5 million in cash along with its remaining debt and liabilities.
Big Lots has an additional Montgomery County location at at 19142 Montgomery Village Ave in the Montgomery Village shopping center. We will provide an update when additional information becomes available.
About: “Big Lots is one of the nation’s largest closeout retailers focused on extreme value. The Company is dedicated to being the big difference for a better life by delivering bargains to brag about on everything for the home, including furniture, décor, pantry and more. It fulfills its mission to help customers “Live BIG and Save LOTS” with sourcing strategies to grow extreme bargains through closeouts, liquidations, overstocks, private labels, and value-engineered products. The Big Lots Foundation, together with the Company’s customers, associates, and vendors, has delivered more than $176 million of philanthropic support to critical needs in hunger, housing, healthcare, and education. For more information, to shop online, or to find a store near you, please visit biglots.com.”
