When it comes to discount stores, there might be nowhere as well-stocked as Big Lots. Head to this retail chain, and you can pick up a couch, dishwasher detergent, cereal, and toothpaste all in one shopping trip. Despite these offerings and their affordable prices, the store has been forced to close locations over the past few years. However, it looks like restructuring efforts are working, as Big Lots just announced that it is no longer closing 15 stores that were on the chopping block. Here’s where they’ll remain open—and why.
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Big Lots first announced closure plans in 2022.
In late 2022, Big Lots announced “an accelerated number of closures.” At the time, president and CEO Bruce Thorn said the decision was made to increase revenue by closing “underperforming” stores and selling off physical storefronts owned by the company. He added that inflation had affected customers’ discretionary spending on big-ticket items, hurting Big Lots’ bottom line.
Throughout 2023, Big Lots closed roughly 50 locations. At the end of the year, though, the company appointed a new leadership team and announced a “multi-year strategic plan” that included continuing to close failing locations and updating the store’s inventory and branding.
True to the plan, closings continued throughout 2024, and at times, Big Lots’ future seemed uncertain. In fact, in June, the retailer cited “substantial doubt” about its ability to continue, and two months later, filed with the U.S. Securities and Exchange Commission (SEC) its plans to close a staggering 315 stores.
And then filed for bankruptcy.
This past September, things came to a head when Big Lots filed for Chapter 11 Bankruptcy and announced plans to enter into a sale agreement with Nexus Capital Management LP.
“The actions we are taking today will enable us to move forward with new owners who believe in our business and provide financial stability, while we optimize our operational footprint, accelerate improvement in our performance, and deliver on our promise to be the leader in extreme value,” Thorn said in a statement at the time.
As it pertained to store closures, he added, “Though the majority of our store locations are profitable, we intend to move forward with a more focused footprint to ensure that we operate efficiently and are best positioned to serve our customers. To accomplish this, we intend to use the tools afforded by this process to continue optimizing our store fleet in an orderly manner.”
RELATED: 7 Best Things to Buy at Big Lots, Retail Experts Say.
But now it looks like Big Lots may have turned a corner.
According to a report published today in The Hill, the following 15 Big Lots locations that were previously on the closure list will now remain open, as was discovered by a status change on their location websites:
“I’m Just wondering how do they handle this? Do they just take all the closing signs down and put up one that says just kidding??” wrote the original poster u/Lauralou724.
“Hahaha basically that’s what happens. You get the call that your store isn’t closing and start taking down all the signs. I got a call on a Monday and Tuesday morning the prices all went to normal and the sale was over,” responded Big Lots employee u/jbuzz1982.
“The company line is that ‘Customer demand was so great during the closing sale and we heard from customers about how much they’ll miss the store,'” the employee added.
The Hill shares that a Big Lots spokesperson told Nexstar, “We continue to evaluate store closings in light of lease renegotiations and other considerations, and remain committed to keeping our customers informed as we move forward. For up-to-date information regarding a particular Big Lots store, customers should refer to our store locator at www.biglots.com.”
Despite the good news for these 15 stores, many locations are still on the chopping block for 2025.
Best Life reached out to Big Lots for comment on the changes and plans for the new year and will update the story when we hear back.