Big Lots to Close Nearly 150 Stores Nationwide Amid Financial Struggles

The discount retailer cites declining sales and economic pressures as reasons for the widespread closures.

Big Lots plans to shutter approximately 149 stores across 28 states, including major closures in California, Florida, and Arizona.
The company reported a net loss of $205 million in the first quarter of 2024 and has seen a 10% decline in sales.
Several stores have already begun liquidation sales, offering discounts up to 30%.
The closures raise concerns about the retailer's future viability, with potential bankruptcy being speculated.
Despite the closures, Big Lots plans to open three new stores as part of its restructuring efforts.