Big Lots to close 4 of 6 Hudson Valley stores
Big Lots is closing more stores throughout New York, including four of its six locations in the mid-Hudson Valley, as it goes through bankruptcy.
On Friday, the discount retailer's website listed its locations in Kingston, Middletown and Wappingers Falls as scheduled to close. The Poughkeepsie location has already closed its doors. That leaves stores in Saugerties and Newburgh as the only ones expected to remain open.
In the Capital Region, Big Lots previously announced it would close its stores in Troy and Queensbury. Its locations in Clifton Park and Amsterdam are expected to remain open for now.
The stores scheduled to close are running discounts of at least 20%.
Last month, Big Lots agreed to be purchased by an investment firm, Nexus Capital Management LP, and entered Chapter 11 bankruptcy in U.S. District Court in Delaware.
In Chapter 11, a business can reorganize in a way that helps pay off creditors and solves the company's financial problems.
"The actions we are taking today will enable us to move forward with new owners who believe in our business and provide financial stability, while we optimize our operational footprint," President and CEO Bruce Thorn said in a statement at the time.
The company has already shuttered about 300 of its nearly 1,400 stores nationwide. Many of the closures were in California.
This story was originally published October 18, 2024, 3:31 PM.
