Big Lots closing dozens of stores, putting survival in question

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Big Lots announced last month in an SEC filing that it will be closing 35 to 40 stores this year, despite opening three new ones. The company operates more than 1,300 U.S. stores.

Discount retailer Big Lots expects to close "35 to 40" stores by the end of the year, according to a U.S. Securities & Exchange Commission filing last month. In the 280-page filing, the company noted "substantial doubt about the Company's ability to continue" due to shoppers pulling back on spending due to inflation. Ohio-based Big Lots operates more than 1,300 stores across 48 U.S. states, according to a June earnings press release.

Big Lots did not respond to a FOX Business request for comment. The company expects to open three new stores this year, and has not yet publicized a list of the dozens shuttering.

 

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Big Lots to close 35-40 locations as company expresses doubt about financesJustin Boggs is a writer for the E.W. Scripps company. Justin covers anything from politics to sports and entertainment.
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