Big Lots to Close Over 300 Stores Amid Financial Struggles

The discount retailer cites high inflation and decreased consumer spending as key factors in its decision.

Big Lots plans to shutter 315 stores across the U.S., including 8 out of 14 locations in Colorado.
California will see the highest number of closures, with 75 of its 109 stores set to close.
The company reported a net loss of $205 million in the first quarter of 2024 and increasing long-term debt.
Affected stores are offering discounts of up to 20% on all inventory during closing sales.
Big Lots is not alone; other major retailers like Walgreens and Red Lobster are also closing numerous locations.