A Big Lots store poised to close under a bankruptcy restructuring, Sept. 2024. (Photo: Shorebeat)
The ongoing bankruptcy of retailer Big Lots will not affect the big box store’s Ocean County locations, according to an updated list released this week.
Locally, the Columbus, OH based discount chain operates stores in Brick (Van Zile Road), Toms River (Route 37 East) and Barnegat (Route 9) townships. None of these stores will close under the company’s chapter 11 bankruptcy reorganization plan, which includes the shuttering of 344 stores across the United States.
The company, in total, operates 1,388 stores and employs 22,900 people.
The company “will continue paying employee wages and benefits, and making payments to certain critical vendors, in the ordinary course of business,” Big Lots said in a statement. “The company expects to pay vendors in full under normal terms for any goods delivered and services provided after the filing.”
While the retailer’s Ocean County stores will remain open, the same cannot be said for some of the company’s Monmouth County locations. The updated list included several closure announcements there, including the stores in Freehold (Trotters Way) and Ocean Township (Route 66). Big Lots locations in Woodbridge, East Brunswick, Union and Phillipsburg will close as well.
A Big Lots store poised to close under a bankruptcy restructuring, Sept. 2024. (Photo: Shorebeat)
Last week, Big Lots entered into a sale agreement with Nexus, which agreed to acquire substantially all of the company’s assets and ongoing business operations. To facilitate the transaction, the company initiated voluntary bankruptcy proceedings. The stores that are closing are offering significant discounts on items, generally about 50 percent, according to signage.
