Nearly 50 more Big Lots stores in 25 states are preparing to shut their doors. This comes as part of the retailer’s bankruptcy filing.
Big Lots filed for Chapter 11 bankruptcy protection earlier this month. Over 340 stores have been marked for closure. By Sept. 29, more than 30 stores had already closed and disappeared from the chain’s website.
The company plans to close 250 more stores by mid-January. This adds to the nearly 300 stores already closing or about to close.
Nexstar reports that 47 new stores will soon join the list of closures. Each store’s web page displays banners reading “closing this location” and offers sales of up to 20%, with limited exceptions.
Some of the newest locations to close include stores in Arizona, California, and Florida. States like Texas, Ohio, and Tennessee are also seeing multiple closures.
Big Lots’s total store closures will reduce its footprint by at least 393 stores. This follows the previously announced closure of 32 stores across 16 states.
States like Arizona, California, and Colorado have already seen multiple stores close. Others, like Florida and Michigan, are also affected.
Despite the closures, Big Lots operates in every state except Alaska and Hawaii. Some states like Delaware, Mississippi, and Nebraska have so far avoided closures.
Big Lots’s President and CEO, Bruce Thorn, said most stores are profitable. However, they aim for a “more focused footprint” to serve customers efficiently. Overall, the company expects to close roughly 550 stores, reducing its retail presence by 40%.