Big Lots plans 'going out of business sales' at all stores

The Big Lots retail store chain announced Thursday that it will begin having going-out-of-business sales at all of its remaining 963 stores, including Paducah, Mayfield and Murray.

Big Lots, Inc. hopes to have the sale completed by early January.

"We all have worked extremely hard and have taken every step to complete a going concern sale," Big Lots President and CEO Bruce Thorn said. "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) process."

In August, Big Lots announced its intention close up to 315 stores, and in October disclosed plans to shut down another 56 locations in 27 states. Big Lots launched Chapter 11 bankruptcy proceedings in early September. 

At its peak the retailer operated around 1,400 stores across the U.S. The stores featured furniture, lawn and garden, apparel, health and beauty, and other consumer goods. Big Lots billed itself as a place that delivered "bargains to brag about on everything for the home."