The Jamestown Big Lots is pictured. P-J file photo by Christopher Blakeslee

Jamestown will soon have another vacant retail space to fill – and this one’s a big one.

Big Lots is closing all of its stores, according to the store’s website, which now features a store closing banner on its main page. There is also a Big Lots location in Dunkirk.

Big Lots had appeared to have a lifeline in September when it announced a Chapter 11 bankruptcy declaration and a sale to private equity firm Nexus Capital Management that was planned to be completed by January. On Thursday, the company announced the sale to Nexus Capital Management had fallen through despite court approval announced in November.

Efforts to sell Big Lots continue, but company officials say they also are preparing to commence going out of business sales at all remaining Big Lots store locations in the coming days to protect the value of its estate. The company believes that the sales will not preclude it from effectuating a going concern transaction.

“We all have worked extremely hard and have taken every step to complete a going concern sale,” said Bruce Thorn, Big Lots’ president and chief executive officer. “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 GOB process.”

The company’s statement says it will continue to serve customers in-store and online, and will provide updates as available.

Concerns about Big Lots’ viability arose earlier this year after the chain’s June filing with the federal Securities and Exchange Commission included plans to close between 35 and 40 stores this year. But an audit of the retailer’s website by Advance Newspapers, which include Masslive.com and the Rochester Democrat and Chronicle, reveal almost 300 stores across the country are expected to close this year. That’s roughly 21% of Big Lots’ stores, including 75 in California alone. There are 10 closures scheduled for New York state, including two in Buffalo.

That was all followed by the September bankruptcy and sale announcement.

The Jamestown Big Lots store in Brooklyn Square opened in November 1995. The location had formerly been home to a Quality Markets store. Quality Markets took over the location after Bells supermarkets went bankrupt. The building had been vacant for about two years before Big Lots opened.