Big Lots Closing: Major Discounts Available Before Final Shutdown in NJ – Big Lots is set to shut down locations in New Jersey, including three recently disclosed sites. Following its Chapter 11 bankruptcy filing, Big Lots has handed over the ownership of its stores and business operations to the private equity firm Nexus Capital Management. The company’s choice to file for Chapter 11 bankruptcy is attributed to prevailing economic factors, including “high inflation and interest rates,” as stated in a press release issued by the company.