List of Big Lots Store Closures Expands

Big Lots has announced plans to close additional stores due to financial challenges exacerbated by a tough economic environment, including high inflation impacting consumer spending. The company’s first quarter of 2024 showed declining revenues and increased long-term debt, prompting concerns about its ability to continue operating.

In June, the company originally announced that it would close between 35 and 40 stores. Now, according to CoStar, “Big Lots’ website had identified about 135 stores in more than two dozen states that the retailer said it was closing — more than triple the number it originally planned to shutter.”

Reports suggest Big Lots may be considering a bankruptcy filing, citing difficulties in meeting financial obligations and uncertainties about future liquidity. The retailer’s struggles reflect broader challenges faced by various companies in the retail sector since the COVID-19 pandemic.

Out of all states, Big Lots is closing the most stores in California — 54 currently, including locations in Sacramento, Anaheim, Bakersfield, and other cities across the state.

Big Lots is also set to close three stores in the Chicago area: Crest Hill, Lockport, and Niles. Meanwhile, in Colorado, four locations are now being closed: Aurora, Grand Junction, Littleton, and Longmont. According to Greater Long Island, “On Long Island, the Centereach location at 231 Centereach Mall and the Carle Place location at 260 Voice Road are slated for closure. Both stores currently have sales of up to 20% off.”

Additionally, Big Lots is closing its Salem and Albany locations in Oregon, and just like most of its other closing locations, the closing stores in Oregon are offering up to 20% off items in-store.

Furthermore, Big Lots acquired Hearthsong earlier this year, expanding its toy offerings with over 500 new products at heavily discounted prices of 50% to 70% off. This move is part of the company’s strategy to reclaim its bargain reputation and enhance its off-price sourcing under new leadership. Despite recent financial struggles and stock price volatility, Big Lots aims to revitalize its market position by offering compelling deals and addressing consumer concerns about pricing and competition in the retail landscape.