Big Lots acquires Canada's Liquidation World chain

Big Lots closeout chain expands outside US with acquisition of Canada's Liquidation World

Associated Press

COLUMBUS, Ohio (AP) -- Closeout store operator Big Lots Inc. says it's expanding outside the U.S. for the first time through a $20 million takeover of Canadian chain Liquidation World Inc.Columbus, Ohio-based Big Lots announced the completion of the acquisition on Tuesday. Chairman, CEO and President Steve Fishman says in a statement that the purchase of Brantford, Ontario-based Liquidation World gives Big Lots an immediate footprint in Canada with 89 stores, existing infrastructure and more than 1,000 employees.Big Lots operates more than 1,400 stores in 48 states.Shares of Big Lots rose 4 cents to $33.77 in midday trading.

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