Fairhaven Big Lots Set to Close Along With All Other Locations

FAIRHAVEN (WBSM) — After getting a bit of a reprieve during a round of closings earlier this year, it looks like the Fairhaven Big Lots store is now on its way out as the company has announced it will close all of its stores.

However, there is a chance it could survive, if a buyer steps in and purchases the retail chain. The stores will still proceed with “going out of business” sales, though, according to a press release from Big Lots, Inc.

The company announced on Thursday that “it does not anticipate completing its previously announced asset purchase agreement with Nexus Capital Management, though it continues to work toward completing an alternative going concern transaction with Nexus or another party.

Big Lots, Inc. said its goal is to complete a sale by early January. It said the going out of business – or “GOB” – sales would not preclude the chain from being sold.

Already this year, nearly 600 Big Lots stores have been closed as the company went through Chapter 11 bankruptcy protection.

"We all have worked extremely hard and have taken every step to complete a going concern sale,” CEO Bruce Thorn said. “While we remain hopeful that we can close an alternative going concern transaction, in order to protect the value of the Big Lots estate, we have made the difficult decision to begin the GOB process."

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Back in July of this year, Big Lots announced it was expecting to close “35 to 40” of its stores in 2024 after closing 50 stores in 2023, and that it would also open three new stores. However, it was reported that 580 locations of its over 900 stores will have closed this year, including the Seekonk location.

The Big Lots in Fairhaven opened in 2018.