Big Lots to Close Up to 40 Stores Amid Bankruptcy Concerns

Struggling Retailer Plans to Shutter Locations Nationwide

Discount Giant Faces Financial Headwinds

Discount retailer Big Lots is reportedly planning to close between 35 and 40 stores this year, as the company grapples with financial challenges and mulls the possibility of bankruptcy. The closures represent a significant portion of Big Lots' brick-and-mortar presence, with the company currently operating over 1,400 stores in the United States. The decision to close stores comes amid declining sales and elevated operating costs, including soaring inflation and supply chain disruptions. Big Lots has also faced competition from both online retailers and traditional brick-and-mortar giants like Walmart and Target.