Big Lots: 'Going out of business' sales to begin at all locations

(NEXSTAR) – After filing for Chapter 11 bankruptcy protection and closing hundreds of stores, Big Lots is preparing to close all of its locations, the company confirmed on Thursday. 

In a press release, the company said it will begin "going out of business" sales at all of its remaining locations — totaling 963 as of Thursday — after failing to complete its previously announced sales to Nexus Capital Management, a private equity firm.

More than 400 Big Lots stores have already closed this year...