Another Alabama location of Big Lots is slated for closure, along with more than 40 other stores around the U.S.
The Phenix City store, located on U.S. 280, is one of 46 stores that will shutter as the retailer continues to deal with a Chapter 11 reorganization.
The company announced in August it was shutting down 300 of its 1,400 stores, including Alabama stores in Bessemer, Huntsville, Prattville, Sylacauga and Troy.
The chain had previously said it may need “to close certain locations to ensure that our business operates efficiently and we can continue serving our customers.”
Other stores in this latest round are in Florida, Ohio, Pennsylvania, California and Texas, among other states.
Last month, Big Lots filed for bankruptcy, just weeks after announcing the store closures.
Private equity firm Nexus Capital Management will acquire “substantially all” of Big Lots stores and business operations. Stores and websites will remain open during the transition.
As part of its restructuring, Big Lots has secured $707.5 million in fresh financing to keep operating and expects to pay all employees and vendors, CNN reported. Nexus’ acquisition is expected to close late this year.
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