Discount store Big Lots is expected to close more stores across the country after a deal made with the company’s new owner.

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As Big Lots' bankruptcy process continues, more than 460 locations are likely closing because their leases are on list of those for sale.

The CEO and president of Big Lots in December said the company remained "hopeful" about keeping some stores open.

Big Lots is under new ownership after a last-minute sale went through that will keep hundreds of stores in operation and prevent thousands of layoffs.

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