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Big Lots To Begin 'Going Out Of Business' Sales At Nearly 1,000 Remaining Stores Big Lots To Begin 'Going Out Of Business' Sales At Nearly 1,000 Remaining Stores
Big Lots To Begin 'Going Out Of Business' Sales At Nearly 1,000 Remaining Stores Big Lots has announced plans to close all of its remaining 963 stores, initiating "going out of business" sales following its Chapter 11 bankruptcy filing in September. The company says it's started the process of closing stores in 48 states and liquidating inventory under its court-supervised Chapter 11 bankruptcy proceedings.  The decision comes as the retailer seeks to maximize value for stakeholders while exploring potential going-concern sale opportunities. "We all have worked extremely hard and have taken every step to complete a going concern sale," Big Lots' President and Chie…

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by Joe Lombardi
Business
COVID-19: Century 21 Files For Bankruptcy, Closing All Stores COVID-19: Century 21 Files For Bankruptcy, Closing All Stores
Covid-19: Century 21 Files For Bankruptcy, Closing All Stores Liquidation sales are under way at all 13 Century 21 stores after the company announced Thursday it filed for Chapter 11 bankruptcy protection. The impetus was a non-payment of approximately $175 million declined by the company's insurance provider as a direct result of losses during the COVID-19 pandemic, the company said in a press release. The off-price retail store in business for more than 60 years was left with "no viable alternative" to closing," the company's co-CEO Raymond Gindi said.  "While retailers across the board have suffered greatly due to COVID-19, and Century 2…

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by Cecilia Levine
Business
Sears Announces 40 New Store Closures, Including One In CT Sears Announces 40 New Store Closures, Including One In CT
Sears Announces 40 New Store Closures, Including One In CT Less than a month after it filed for bankruptcy and announced the closures of 142 Sears and Kmart stores, Sears Holdings is saying it's planning to close another 40 stores in February. The new round of closures means there will be roughly 660 Sears and Kmart stores still open. Liquidation sales at the 40 locations set to close will start late next week.  There are three stores slated to shut down in New York among those 40: Kmart 805 New York Ave., Huntington Sears, 3065 Route 50, Saratoga Springs Sears, 21182 Salmon Run Mall, Watertown  The one store in Connecticut in the ne…

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by Joe Lombardi
Business
Sears Files For Bankruptcy, Will Close 142 Stores Sears Files For Bankruptcy, Will Close 142 Stores
Sears Files For Bankruptcy, Will Close 142 Stores This story has been updated. Sears, once the world's largest retailer, has now officially filed for bankruptcy, while announcing plans to close another 142 unprofitable Sears and Kmart stores, including several in the area. The Sears closures include two in the Hudson Valley: at 75 West Route 59 in Nanuet and at 600 Lee Boulevard in Yorktown. Two Sears stores in Connecticut are closing: at 1201 Boston Post Road in Milford (Lands' End) and 850 Hartford Turnpike in Waterford (Lands' End). Among stores closing are five Kmarts in New York, including the Kmart at 987 Route 6 in Mahopac. No Kma…

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by Joe Lombardi