In a significant development for the retail sector, Big Lots has officially announced that it will begin going out of business sales at all of its locations across the country. The Ohio-based discount retailer, which has struggled amid economic challenges and a failed sale to Nexus Capital, has made the difficult decision to close all of its stores. As part of this process, the company is preparing to lay off over 500 employees, including its CEO. Stores in various states, including Maryland, Virginia, Indiana, and Texas, will be participating in these sales as they clear out inventory. This nationwide closure marks the end of an era for the retailer and raises questions about the future of retail in an ever-changing marketplace.