Photo byCommunity Impact
It’s another tough hit for Big Lots shoppers. The discount retailer, already in the midst of Chapter 11 bankruptcy restructuring, has announced it will shutter an additional 19 stores across nine states. This is just the latest wave in a series of closures aimed at “optimizing” its store footprint as the company works to navigate financial challenges.
Where Are the Closures Happening?
This new round of closures will impact several states, with California, Texas, and Oregon being hit the hardest. Here’s the breakdown:
- California: 5 stores
- Oregon: 3 stores
- Texas: 3 stores
- Additional closures are planned in Arizona, Florida, Georgia, Idaho, Nevada, and Washington.
Stakeholders have until November 23 to object to these closures, but unless there are major changes, these stores will soon be gone from their communities.
What’s Behind the Closures?
Big Lots has been struggling financially for some time. When the company filed for Chapter 11 bankruptcy protection in September, it revealed plans to close over 340 locations to address its mounting debt and declining sales. Since then, more closures have followed, including 50 stores in October and now this additional batch of 19.…