Big Lots in Rio Rancho to close

RIO RANCHO — The Big Lots store in Rio Rancho is closing, according to a recent announcement from the nationwide retail giant.

An official closure date for the Rio Rancho location has not yet been confirmed. However, the company announced all stores will soon close.

“We all have worked extremely hard and have taken every step to complete a going concern sale. 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 Going Out of Business (GOB) process,” said Bruce Thorn, president and CEO of Big Lots.

Big Lots location across the country have begun “GOB sales”, including the Rio Rancho location.

“In the meantime, we will continue to serve our customers both in-store and online,” Thorn said.

Big Lots filed for bankruptcy in September, with plans to sell operations to Nexus Capital Management, a private equity firm (here is the link).

In an email sent to employees, Thorn said the pending store closures could “be reversed if we successfully complete a sale.”

Big Lots is still trying to rework a deal with Nexus or another party.