Big Lots bows out of Canada

COLUMBUS, Ohio — Closeout retailer Big Lots is withdrawing from the Canadian market, putting an end to a two-year experiment. Reporting a third-quarter loss, the company stated it has “not been able to gain the necessary traction in the Canadian marketplace that had originally been anticipated” and would not invest in a turnaround any further. Despite higher sales, the firm posted losses of $9.5 million, compared to $6 million the same period last year. Big Lots entered Canada in the summer of 2011, buying up the flagging Liquidation World, reports the Columbus Dispatch.