Big Lots is set to close approximately 300 additional stores, with a significant number of closures impacting California locations. This move comes amidst growing speculation that the company could be on the brink of bankruptcy.
In early July, Big Lots indicated that between 35 and 40 stores might shut down by the end of the year. However, a recent SEC filing, submitted on July 31, revealed that the closure count could surge to 315, significantly surpassing the initial estimate of 150.
The company has cited inflation and competitive challenges as primary reasons for this drastic measure, expressing “substantial doubt” about its ability to sustain operations. Sales figures have also contributed to the decision, with a reported drop of over 10% between the first quarters of 2023 and 2024.
Affected Locations and Closure Details
Big Lots has not provided a complete list of the stores slated for closure. However, signs indicating store closures have already appeared at affected locations. Customers are being notified of these closures with banners reading “closing this location” and are offered discounts of up to 20% on remaining inventory.
Here’s a breakdown of the states with Big Lots stores set for closure:
California: Includes locations in Ceres, Chino, Elk Grove, Fontana, Fresno (West Shaw Avenue and Kings Canyon Road), Gardena, La Habra, Lodi, Mission Viejo, North Highlands, Oroville, Paradise, Spring Valley, Torrance, Victorville, Whittier, Yuba City, and approximately five dozen additional locations.
New States: Arkansas, Kentucky, Maine, Nevada, New Hampshire, New Jersey, Tennessee, and Wyoming now also have stores marked for closure, with several previously unaffected states, such as Ohio, now also experiencing closures.
Other Affected States:
- Alabama: Bessemer, Huntsville, Prattville, Sylacauga, Troy
- Arizona: Multiple locations including Gilbert, Green Valley, and Tucson
- Colorado: Colorado Springs, Greeley, Aurora, Grand Junction, Littleton
- Connecticut: Newington, New Milford, Norwich, Waterbury
- Florida: Numerous locations including Orlando, Miami, and Tampa
- Georgia: Decatur, Fayetteville, Savannah
- Illinois: Burbank, Elgin, Oakbrook Terrace
- Indiana: Elkhart, Fort Wayne, Kokomo
- Michigan: Big Rapids, Coldwater, Lansing
- Minnesota: Albert Lea
- Missouri: Independence, Kansas City, Saint Louis
- New Jersey: Woodbridge
- New York: Buffalo, Canandaigua, Ithaca
- North Carolina: Charlotte, Durham, Raleigh
- Oregon: Beaverton, Eugene, Salem
- Ohio: Cincinnati, Toledo
- Pennsylvania: Philadelphia, Kennett Square
- South Carolina: Aiken, Newberry
- Tennessee: Franklin, Madison
- Utah: American Fork, Murray
- Virginia: Charlottesville, Virginia Beach
- Washington: Multiple locations including Lakewood, Spokane, and Tacoma
- Wisconsin: La Crosse, Sheboygan
Note: No closures have been reported for Delaware, Idaho, Iowa, Mississippi, Nebraska, New Mexico, North Dakota, Oklahoma, Rhode Island, Texas, or West Virginia.
Company’s Future and Current Status
Big Lots currently operates 1,389 locations across 48 states, with only Alaska and Hawaii remaining without stores. The planned closures, if executed, would result in nearly 23% of its retail locations being shut down. Founded in 1967, Big Lots transitioned to its current store name in 2001.
The exact timing and reasons behind the selection of the specific stores for closure remain unclear, as Big Lots has not yet released detailed information. A representative from the company did not immediately respond to requests for further comment.
As Big Lots navigates this challenging period, the retail landscape continues to evolve, and the company’s ability to adapt will be crucial to its future viability.
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FAQ: Big Lots Store Closures
1. What Big Lots stores are closing in 2024?
Big Lots has announced that approximately 300 stores will be closing in 2024. The specific locations are still being finalized, but the closures will affect numerous states across the country.
2. Where can I find a list of Big Lots stores closing in 2024?
As of now, Big Lots has not released a comprehensive list of all stores set for closure. However, you can check local store web pages and news updates for the most current information.
3. How many Big Lots stores are closing in California?
Big Lots is closing a significant number of stores in California, including locations in cities like Los Angeles, San Diego, and San Francisco. Exact numbers are not specified, but dozens of locations are affected.
4. Are there any Big Lots stores closing near me?
To find out if a Big Lots store near you is closing, check the store’s individual web page or local news sources for updates. Many stores have banners indicating their impending closure and may offer discounts on remaining merchandise.
5. What is the reason for the Big Lots store closures?
Big Lots is closing stores due to financial difficulties, including the impact of inflation and decreased sales. The company reported a significant drop in sales and expressed concerns about its ability to continue operations.
6. Is there a list of Big Lots stores closing in 2023?
Yes, a list of stores closing in 2023 was previously released. However, for 2024 closures, the updated list is still forthcoming.
7. How can I find out which Big Lots stores are closing in Florida?
For information on Big Lots store closures in Florida, check the company’s official website or local news outlets, as specific store closures are usually announced through these channels.
8. How many Big Lots stores are there currently?
Big Lots operates 1,389 locations across 48 states. With the planned closures, this number will decrease significantly.
9. Are all Big Lots stores closing?
No, not all Big Lots stores are closing. The closures will affect a portion of their locations, with around 300 stores slated for shutdown in 2024.
10. What about Big Lots stores closing in Illinois?
The closure list includes several Big Lots locations in Illinois. For specific stores, check local news or Big Lots’ store locator for updates.