Big Lots is a well-known discount retailer. Currently, the retail brand is going through Chapter 11 bankruptcy and has announced the closure of 19 additional stores. This move is part of the company’s larger restructuring plan aimed at stabilizing the operations of the company. If you shop at Big Lots, here is what you need to know about the store closures and which locations are affected.
Why is Big Lots closing more stores?
To streamline operations following the agreement with its new owner Nexus Capital Management LP, the retail brand had to shut down certain operations. This is part of the chapter 11 bankruptcy process which started back in September this year resulting in the closure of several stores by Big Lots across the US.
As revealed by Big Lots, certain locations of their stores are still making profits but the company has to close unproductive locations in order to achieve more profit in the long run. In a recent report , the brand stated, “We will need to close certain locations to ensure that our business operates efficiently and we can continue serving our customers.”
Big Lots are closing stores in New York: here are all the locations of the closed stores by county
Which Big Lots stores are affected by the closures?
The 19 newly announced closures span several states and include locations from California to Florida. Here is the list of affected stores:
- Texas:
- Porter: 23741 Highway 59 Ste 30
- San Antonio: 3715 Colony Drive
- Webster: 1201 West Nasa Parkway
- California:
- Redondo Beach: 1207 Aviation Boulevard
- Murrieta: 25260 Madison Avenue
- Los Angeles: 1815 West Slauson Avenue
- Tulare: 1675 Hillman Street
- Bakersfield: 4751 White Lane
- Florida:
- Fort Walton Beach: 111 Racetrack Road NW
- Orlando: 2544 East Colonial Drive
- Oregon:
- Medford: 1070 Biddle Road
- Hermiston: 930 South Highway 395 Ste A
- Roseburg: 1350 Ne Stephens St Ste 50
- Nevada:
- Las Vegas: 7781 West Tropical Parkway
- Sparks: 1300 Disc Drive
- Other States:
- Georgia: 3358 Chamblee Tucker Road, Atlanta
- Arizona: 3543 West Thunderbird Road, Phoenix
- Idaho: 100 East Fairview Avenue, Meridian
- Washington: 813 North Stratford Road, Moses Lake
What does this mean for Big Lots customers?
If your local store is on the closure list, it might feel like a loss, especially if it is your go-to spot for affordable home goods and furniture. However, Big Lots is working to maintain operations at its other locations and online stores. For customers, this means you can still shop online or find a nearby location that remains open.
Big Lots has also filed motions with the U.S. Bankruptcy Court to ensure employees of the closing stores receive continued pay and benefits during this transition period.
Is Big Lots going out of business in 2024 and why are so many stores closing?
How does this affect the company’s future?
The sale of Big Lots to Nexus Capital Management is expected to be finalized by the fourth quarter of 2024. This agreement includes $707.5 million in financing, which provides some hope for stabilizing the company.
While it is always tough to see store closures, these decisions are part of a larger plan to keep Big Lots viable. By focusing on profitable stores and improving efficiency, the retail brand aims to create a stronger foundation for its future operations.
Continue Reading…
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Big Lots is closing stores in California: Here are all the locations of the closed stores by county
