Big Lots! To Shutter Dozens of Stores: Is Yours on the List?

Retailers have been struggling in recent months due to market issues that have forced some of them to the brink of bankruptcy.

Big Lots is one of the retailers facing trouble. The retailer caters to shoppers looking for discounts on furniture, home decor, and more. It has announced plans to close dozens of stores.

Although Big Lots can help you save money shopping, that might be more difficult if your local store is closing soon. Here’s what you need to know if you are concerned about your local Big Lots location.

Home goods stores like Big Lots have struggled in recent years as inflation has raised costs, forcing consumers to cut back on some of their spending.

Big Lots says inflation has impacted consumers’ buying power, putting a damper on sales at its locations. If you are trying to keep more cash in your wallet these days, you probably can relate to why other shoppers are reluctant to spend.

In a filing with the U.S. Securities and Exchange Commission, Big Lots announced that its sales dropped from the first quarter of 2023 to the first quarter of 2024.

The drop in sales caused Big Lots to reevaluate some of its locations as a cost-saving measure. The retailer says it will close dozens of locations this year.

This isn’t the first time Big Lots has closed some of its locations. Last year, the company shut down 52 stores across the country.

Big Lots hasn’t released an official list of store locations that are shutting down, but you may be able to find out more by going to the retailer’s website and searching for your local store.

Some stores on the Big Lots website have banners at the top of their store pages announcing store-closing sales with discounts of up to 20%.

Media outlets have started to sift through the Big Lots website to find locations that are closing.

The stores that appear to be impacted are located in 27 states, with Arizona, California, Florida, Washington, and Wisconsin being hit the hardest.

Big Lots hasn’t declared bankruptcy or that it’s going out of business, so the company could still survive.

But Big Lots is among many other retailers that are struggling. Time will tell how the future unfolds for Big Lots.

Many retailers have struggled in recent months due to inflation and a lack of spending by consumers, which has hit companies’ bottom lines.

Walgreens and Rite Aid have shuttered pharmacies in multiple states, while clothing retailers Express and rue21 shut down stores this year, with rue21 shuttering all its locations as part of a bankruptcy filing.

It can be difficult to find ways to eliminate some money stress when you shop, especially when local discount shops like Big Lots close their doors.

However, there are still ways to stay ahead financially. For example, it’s a good idea to comparison shop so you can find the best deals and keep some cash in your pocket.

Also, consider using rewards credit cards that can help you earn extra points and perks when you shop.