National retailer with 82 stores in NJ, PA preparing ‘going out of business’ sales: Report

Published reports say the end could be near, or at least nearing, for a big national retailer with 18 stores in New Jersey and 64 in Pennsylvania.

According to MSN.com, after filing for Chapter 11 bankruptcy protection and closing almost one-third of its stores across the country over the past several months, Big Lots is now preparing to close all its locations.

However, all hope might not be lost as CEO Bruce Thorn said that decision could "be reversed if we successfully complete a sale," which the company continues to pursue.

The struggling chain confirmed that shocking news at the height of the busy holiday shopping season to several publications Thursday after failing to complete its sale to a private equity firm.

TheHill.com quoted Thorn in an email to workers as saying, "I recognize this is difficult news for all of us. You should be proud of the grit and resiliency you’ve demonstrated through what I know has been a challenging time."

Big Lots, known for selling furniture, home goods, and other products at discounted prices, has about 960 stores nationwide with over 25,000 employees.

As part of a cost-cutting plan announced earlier this year, several stores across the Garden State closed, including this one in Mays Landing which shut down within the past few days.

While Big Lots' corporate team continues to try to save the chain, Thorn said, "We will continue to serve our customers both in-store and online."