The Big Lots business saga continues.

The discounter announced that a planned merger with private equity firm Nexus Capital Management had failed and would now close all locations. The company filed for bankruptcy earlier this year and said it would close more than 300 of its 1,400 locations.

Sales will now take place on all 960+ remaining Big Lots.

READ MORE: Is your Big Lots closing? List of nearly 300 stores slated to close across the U.S. and several locations in Alabama

“We all worked extremely hard and took every step to complete a going concern sale. “While we remain confident in our ability to complete an alternative going concern transaction, in order to protect the value of the Big Lots property, we have made the difficult decision to initiate the (going out of business) process,” said Bruce Thorn, Big Lots’ President and Chief Executive Officer said in a statement.

Big Lots said no timeline for store closures has been released and operations will continue in stores and online.

There’s also a glimmer of hope that the chain will stay in business. In an email to employees shared with Nexstar, Thorn said the closures could be halted if a sale is completed.

Big Lots will continue its “efforts to enter into an alternative deal with Nexus or another party that would allow us to retain a significant portion of our business going forward,” Thorn said.