Troubled discount furniture and home accessories retailer Big Lots will launch sales at its remaining locations after a deal to find a buyer fell through.

In a news release Thursday, Big Lots said it no longer expects to enter into a previously announced agreement with a private equity group to save the company.

However, work is continuing to complete an alternative transaction with that group, Los Angeles-based Nexus Capital Management, or another party.

In September, Big Lots filed for Chapter 11 bankruptcy reorganization after suffering continued losses. The Columbus, Ohio-based company has announced hundreds of store closings this year.

The brick-and-mortar retail landscape in general suffered another set of setbacks in 2024: There have been 49 retail bankruptcies in the U.S. so far (including auto dealers and direct-to-consumer brands), compared to 25 retail bankruptcies in 2023, according to data from Coresight Research, a consumer insights company -Group.

More than 7,300 store closures have been confirmed by Coresight year to date, led by Family Dollar with 718, followed by CVS with 586 and Big Lots with 580.

According to Coresight, there were 4,627 store closures across retail at the same time last year.