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COLUMBUS, Ohio — Big Lots Inc. will terminate its three wholesale operations, Big Lots Wholesale, Consolidated International and Wisconsin Toy, by the end of its 2013 fiscal year in January 2014.
Big Lots Inc. will terminate its three wholesale operations, Big Lots Wholesale, Consolidated International and Wisconsin Toy, by the end of its 2013 fiscal year in January 2014.
The closeout retailer intends to liquidate the inventory of its wholesale businesses by then and will assimilate as many associates as possible into its retail operations.
As a result of the decision, Big Lots expects to book a pretax charge ranging between $5 million and $8 million during its current third fiscal quarter. Once the wholesale business has been terminated, it will qualify to be classed as a discontinued operation for accounting purposes.
