Big Lots Permanently Closes In Cherry Hill

CHERRY HILL, NJ — The Big Lots brand may still have a future. But the Cherry Hill store won't be part of it.

Big Lots in Cherry Hill has permanently closed. The location was considered low-performing and had been slated to shutter for several months as part of the bankrupt company's downsizing plans in the fall.

The discount retailer filed for bankruptcy in September. Big Lots hoped to stay afloat by closing hundreds of locations — including Cherry Hill's —and selling its assets for $620 million to Nexus Capital Management, a private equity firm.

Earlier this month, Big Lots announced that the deal with Nexus collapsed and all of its remaining stores would enter liquidation sales. But Big Lots still hoped to find a buyer by early January.

Big Lots then struck a deal, announced Friday, with Gordon Brothers Retail Partners that could save between 200 and 400 remaining stores. There were 963 locations remaining as of Dec. 20, when Big Lots announced going out of business sales at all of its remaining locations.

Cherry Hill's store was still open when the liquidation sales began, but it wasn't immediately clear when it closed.

It's also unknown which Big Lots stores will stay open if the sale is finalized.

Big Lots is laying off 385 employees from its 16 remaining New Jersey stores, effective Feb. 28, according to a mass-layoff notice shared by the New Jersey Department of Labor.

A Big Lots spokesperson didn't immediately respond to Patch's inquiry on whether those stores are closing. An NJDOL spokesperson said the state labor department did not have that information as of early Monday afternoon.

Big Lots of Sicklerville, West Deptford and Lumberton are among the locations still in business.