Budget Shopping News

Big Lots declares bankruptcy and closes Austin store

Nice furniture is always on sale at Big Lots.

Big Lots

Sad news about Big Lots: The Ohio-based national discount chain has confirmed it is undergoing Chapter 11 bankruptcy, and is closing down locations.

How many total it will be, they do not yet know. But they've already earmarked approximately 344 store closures, and Austin is among the cities getting hit.

A list released by the chain reveals one store closing in Austin at 2506 W. Palmer Ln.

According to a spokesperson the week of September 9, these locations will begin a "20 percent off" everything in the store starting September 13, above and beyond their usual discount prices, and the majority of the stores will close at the end of September.

A total of 16 stores will close across Texas, including locations in Dallas, Fort Worth, Houston, and San Antonio. Big Lots has 1,389 locations across 48 states, none in Alaska or Hawaii.

If you haven't shopped at a Big Lots, well you're crazy, but you're missing good-quality furniture, household goods, awesome seasonal items, and gourmet foodstuffs, as well as basics like cleaning products and cereal. It's not where you do your regular food shopping, but it is totally where you get limited-edition Cheezit jalapeno-cheese Snap'd crackers.

In a statement, Big Lots' president and CEO Bruce Thorn said that the majority of their stores were profitable, but that they were creating a "more focused footprint."

In a letter to employees, Thorn said the chain could return to profitability in 2025, but would likely be closing more stores as part of the bankruptcy process; and that closures were based on factors such as proximity to other stores, location quality, volume potential, rent/lease obligations, and other operational and financial metrics.

"Our core purpose of helping [our customers] 'Live BIG and Save LOTS' has never been stronger," Thorn said. "As we move through this process, we remain committed to offering extreme bargains, enabling easy shopping in our stores and online, and providing an outstanding customer experience."

Big Lots is currently up for auction, and is working with Nexus Capital Management LP, which has placed a bid to acquire the company.

furniture closings shopping

Closure News

Furniture chain American Freight closing Austin and all other stores

American Freight

There's a big sale going on at American Freight.

There's a huge sale on furniture going down right now, but for a sad reason: American Freight, a chain of furniture stores operating in dozens of states, is permanently shuttering all 328 locations, due to “sustained inflation and macroeconomic challenges,” according to its parent company.

That includes one store in Austin, at 13435 N. Highway 183, Ste. 101.

The closing comes after its parent company, Franchise Group, Inc., filed for bankruptcy protection, according to documents filed in the U.S. Bankruptcy Court in Delaware.

Store closing sales began on November 5, both online and at its 328 locations. Hilco Consumer-Retail is managing these sales for American Freight as the business winds down its operations nationwide. Significant discounts are being offered on the brand's full assortment of inventory.

Shoppers can save up to 30 percent off the lowest ticketed prices storewide. Available items include living room sets, bedroom furniture, dining tables, and a selection of scratch & dent and new in-box appliances, such as refrigerators, washers and dryers.

New inventory is arriving and expected to move quickly, so customers should take advantage of this prime opportunity to enjoy exceptional deals before it's too late.

"Our goal is to deliver outstanding value to customers during this full chain closing sale," said Ian Fredericks, CEO of Hilco Consumer-Retail. "Everything is on sale and must be sold, and we recommend shopping early for the best selection."

During the store closing sales, select American Freight financing and delivery services will remain available to customers, presenting a unique opportunity to shop exceptional discounts with the convenience of flexible payment and home delivery.

The chain has 39 stores in Texas.

Sale Details
They're offering up to 30 percent off the lowest ticketed prices on furniture, scratch & dent, and new in-box appliances. Discounts are valid in stores and online. All sales are final, of course. Shop now for the best selection while supplies last.

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