Big Lots Inc. announced it will begin “going out of business sales” at all of its stores.

The store, which has a location in Carbon Plaza Mall, has been pursuing a buyer, but announced Thursday it does not anticipate completing its previously announced asset purchase agreement with Nexus Capital Management.

The company’s goal was to complete a sale by early January.

The company said going out of business sales will begin to protect the value of its estate. Bruce Thorn, Big Lots’ president and chief executive officer, said, “We all have worked extremely hard and have taken every step to complete a going concern sale. While we remain hopeful that we can close an alternative going concern transaction, in order to protect the value of the Big Lots estate, we have made the difficult decision to begin the (going out of business) process.”

The company is continuing to serve customers in-store and online, and will provide updates as available.

Big Lots is one of the nation’s largest closeout retailers focused on extreme value. The company is dedicated to being the big difference for a better life by delivering bargains on everything for the home, including furniture, décor, pantry and more.

It fulfills its mission to help customers “Live BIG and Save LOTS” with sourcing strategies to grow extreme bargains through closeouts, liquidations, overstocks, private labels, and value-engineered products.