(Gray News) – Almost 50 Big Lots locations have been added to a closures list as the retailer shrinks its national footprint amid bankruptcy procedures.
Big Lots announced its Chapter 11 bankruptcy earlier this mouth.
The retailer previously listed about 300 stores for closure. Those stores are winding down operations and selling their products at steep discounts, as low as 70% off at some locations.
The stores recently added to the closure list have a 20% banner on their location’s websites. Those stores include:
- Alabama: Andalusia
- Arizona: Apache Junction
- Arkansas: North Little Rock
- Colorado: Westminster
- Florida: Miami – Cutler Bay
- Idaho: Boise
- Illinois: Champaign
- Indiana: Crawfordsville and Evansville – Town Center
- Kansas: Olathe
- Kentucky: Madisonville
- Louisiana: Hammond
- Nevada: Henderson – Lake Mead Crossing, Las Vegas (Southwest Las Vegas, Sahara Avenue, Fort Apache, Paradise and Summerlin) and Reno (Lemmon Valley and South Reno)
- New Jersey: East Brunswick, Freehold, North Bergen, Ocean, Phillipsburg, Union
- New Mexico: Alamogordo
- Ohio: Cincinnati – Cherry Grove
- Oklahoma: Tulsa – Oakhurst
- Texas: Austin – Wells Branch, Baytown, Dallas – Park Forest, Fort Worth, Frisco, Galveston, Garland – South Garland, Groves, Houston (Northwest Houston at Fm 1960 Rd W and Museum District), Kilgore, Mcallen, Richland, San Antonio – Hollywood Park, Stephenville, Terrell
- Utah: Kearns
- Wisconsin: Stevens Point
As part of the bankruptcy filing, private equity firm Nexus Capital Management will take over nearly all Big Lots’ stores and business operations.
More closures could be in store for Big Lots locations.
The company said it will “continue optimizing our store footprint during the (bankruptcy) process. Though most of our stores are profitable, and we are taking every step possible to improve the profitability of all our stores, we will need to close certain locations to ensure that our business operates efficiently and we can continue serving our customers.”
The retailer blamed several economic factors for its woes, including high inflation and interest rates that caused its core customers to cut discretionary spending “on the home and seasonal product categories that represent a significant portion” of its revenue.
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