Big Lots has announced that it will initiate clearance sales at all remaining locations. Big Lots said in a news release that it does not expect to enter into an agreement with a private equity group to rescue the company. However, they will continue to work to complete an alternative transaction. For this reason, all remaining Big Lots in the United States will have clearance sales. Big Lots filed for bankruptcy in September and has closed hundreds of stores. All remaining deals are now expected to close unless an agreement is reached with a private equity group.