Posted on 08/07/2024 10:09:44 AM PDT by ChicagoConservative27
(NEXSTAR) — Roughly 300 additional Big Lots stores are set to be closed as speculation that the company could file for bankruptcy looms.
In early July, Big Lots warned in a U.S. Securities & Exchange Commission (SEC) filing that between 35 and 40 locations could shutter this year. In a new SEC filing, submitted on July 31, Big Lots said the total number of closures could reach 315, much higher than the originally agreed number of 150.
Company leaders have pointed to inflation and difficulties in competing, saying they had “a substantial doubt” in their ability to continue. Between the first quarters of 2023 and 2024, Big Lots had reported that sales dropped more than 10%.
(Excerpt) Read more at thehill.com ...
The one near me closed eight or nine years ago. It was replaced by a Salvation Army store, but it closed more than a year ago, and the building remains empty.
We had two. One closed four years ago or there about and replaced by a Grocery Outlet (very happy about that) The second one is on the chopping block, sorry for the lost jobs, but we went there maybe once every other year.
Maybe they needed a bigger DEI program, or replacing all cashiers with drag queens? Or asking all customers when they walk in what pronouns should be used? Maybe they should only use solar panels for electricity?
Not saying Big Lots did these things, the Left assures us, and in some ways mandates, similar insanity.
Hey, Bidenomics is highly successful ... at killing businesses
We have one, for years, down from my pizza place. They put up a Closing sign yesterday.
Best economy EVARRR!
More stores closing and fewer jobs is how Kamala promises that people will only need one job to take care of heir families, while at the same time making sure that they get higher wages. Magic!!!
Yeah, somebody should put out the word that Kamala’s reign is coming in January so stop the store closings. There will be a socialist economic boom soon.
That goes for Big Lots, Macy’s, Rite Aid, Walgreen’s and those restaurants all over the place.
It looks like Richland’s is on the closing list, but the Tri-Cities will still have one open.
What you say might be true for many but certainly not around here e.g. Richland and Wenatchee WA.
I wondered into my local biglots and most stuff was 10% off retail, and I could easily buy whatever I wanted much cheaper elsewhere.
Bidenomics!! It works.
There is a lot of competition in the “close out” business, We have an Ocean State Job Lots which is a very nice store and the prices are good, we have an Ollies which recently re-configured their store to look more like Ocean State, and we have two Big Lots stores which are basically unchanged in several years.
They probably had a lot of turnover in merchandise.
But most of it never got rung up on the cash register.
It used to be much better.
The one in my town just put up the "Going Out of Business" sign, but I'm not all that sorry about it. During Covid, the employees were total mask Nazis.
The one nearest my house closed about 2 years ago. The “outlet” one about 20 minutes away rarely has more than 2-3 cars at a time. The Best Buys outlet in the same parking lot closed recently.
“During Covid, the employees were total mask Nazis”
Well, zero doubt they were not the sharpest tools in the shed.
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