MJP –
As the future of the troubled retailer Big Lots is uncertain due to financial concerns, the discount shop giant has revealed intentions to shutter as many as 315 locations across the country.
The bargain retailer stated in a July 31 filing with the US Securities & Exchange Commission that it may amend the conditions of its loans, which could lead to the closure of up to 315 locations. Compared to the 150 stores set to close two months ago, that is an increase.
The store located in Columbus, Ohio, had earlier announced a 10% decline in sales for the quarter ending in June. At the moment, the chain has roughly 1,389 locations across the country.
The store located in Columbus, Ohio, had earlier announced a 10% decline in sales for the quarter ending in June. At the moment, the chain has roughly 1,389 locations across the country.
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Big Lots has announced the following store closures throughout the county:
The addresses for El Cajon and La Mesa are 1085 E Main St and 6145 Lake Murray Blvd, respectively.
- Location: 1702 Oceanside Blvd., Oceanside
- Location: 633 Sweetwater Rd., Spring Valley
- Two7411 Ynez Rd, Temecula
How will these closures affect consumers who depend on bargain businesses to buy goods? That was a common question among shoppers interviewed by NBC 7.
So far, I’m not a fan. Consistently low prices and great discounts are what draw me to this store, according to customer Patrick Straub.
Big Lots is the place to go for those “little goodies” and “favors” that aren’t easily found anywhere else, according to another customer named Jill Tatman.
According to Big Lots, customer purchasing power has been negatively affected by the ongoing macroeconomic issues in the U.S. economy in 2024, as stated in the petition.
According to a press statement published on June 6th, Big Lots “reported a net loss of $205.0 million, or $6.99 per share, for the first quarter of fiscal 2024 ended May 4, 2024.”
The announcement of the closure follows 99 Cents Only Stores‘ earlier declaration three months ago that it would be closing all of its sites.
Meanwhile, shoppers are considering their options for local bargains.
Though it may take some time, you will eventually find what you’re looking for; in fact, some people spend a lot of time on the internet. “But in terms of local, people might have to walk a little farther to find something,” Jackson Thompson remarked.
