Big Lots plans to close as many as 315 stores nationwide, the embattled discount retailer disclosed in a regulatory filing.
In addition to the closures, Big Lots detailed updated loan terms that reduce the Columbus, Ohio-based retailer's credit limit and hike the line's interest rate, according to the document submitted to the Securities and Exchange Commission. An earlier agreement allowed for as many as 150 store closings.
The expanded retreat comes a month after Big Lots announced plans to open three stores and close 35 to 40 this year, adding that it expected further operating losses and citing "substantial doubt" about its ability to continue.
Big Lots declined to comment on specific store closures, but said in an email that the chain reviews its store footprint on an ongoing basis. "While the majority of our stores are profitable, we have made the difficult decision to close certain underperforming stores," a company spokesperson said.
The retailer planned to support its "hard-working associates impacted by a closure, including by accepting requests to transfer to another Big Lots location, if they choose," the spokesperson said. Workers unable to move to another store will be given severance, the spokesperson added.
Big Lots in June reported a net loss of $205 million in the quarter ending May 4, 2024, with its president and CEO Bruce Thorn stating at the time that the company's sales had taken a hit "due largely to a continued pullback in consumer spending by our core customers, particularly in high ticket discretionary items."
The retailer's sales fell 10% to $1 billion in its first quarter, according to Big Lots, which operates more than 1,389 stores in 48 states, according to its website.
The state of California is set to lose 75 of Big Lots' 109 stores, according to the company's website, while none of the 116 locations in Texas are shown as closing.
Here's a state-by-state rundown of stores slated to close:
Alabama
1327 S. Brundidge St., Troy
Arizona
1416 E Route 66, Flagstaff
17510 N 75th Ave., Glendale
3630 W. Baseline Rd., Laveen
2840 E Main St., Ste 109, Mesa
6839 E Main St., Mesa
24760 N Lake Pleasant Pkwy., Peoria
2020 N 75th Ave., Ste 40, Phoenix
230 E. Bell Rd., Phoenix
4727 East Bell Rd., Phoenix
2330 W Bethany Home Rd., Phoenix
4835 E Ray Rd., Phoenix
1260 Gail Gardner Way, Prescott
10220 N 90th St., Scottsdale
940 E Baseline Rd., Tempe
7025 E Tanque Verde Rd., Tucson
4525 N Oracle Rd., Tucson
3900 W Ina Rd., Tucson
2520 S Harrison Rd., Tucson
Arkansas
2999 N College Ave., Fayetteville
California
1670 W Katella Ave., Anaheim
6336 E Santa Ana Canyon Rd., Anaheim
2240 El Camino Real, Atascadero
1085 Bellevue Rd., Atwater
1211 Olive Dr., Bakersfield
2621 Fashion Pl., Bakersfield
1482 E 2nd St., Beaumont
353 Carmen Dr., Camarillo
19331 Soledad Canyon Rd., Canyon Country
1611 E Hatch Rd., Ste A Ceres
1927 E 20th St., Chico
12550 Central Ave., Chino
2060 Monument Blvd., Concord
740 N Main St., Corona
5587 Sepulveda Blvd., Culver City
912 County Line Rd., Delano
1085 E Main St., El Cajon
8539 Elk Grove Blvd., Elk Grove
1500 Oliver Rd., Fairfield
9500 Greenback Ln., Ste 22, Folsom
17575 Foothill Blvd., Fontana
1986 Freedom Blvd., Freedom
3520 W. Shaw Ave., Fresno
4895 E Kings Canyon Rd., Fresno
7370 N Blackstone Ave., Fresno
2900 W Rosecrans Ave., Gardena
360 E 10th St., Gilroy
1551 Sycamore Ave., Hercules
42225 Jackson St., Ste B, Indio
3003 W Manchester Blvd., Inglewood
1020 W Imperial Hwy, La Habra
6145 Lake Murray Blvd., La Mesa
4484 Las Positas Rd., Livermore
380 S Cherokee Ln., Lodi
1009 N H St., Ste M, Lompoc
2238 N Bellflower Blvd., Long Beach
951 W Pacheco Blvd., Los Banos
1321 West Yosemite Ave., Manteca
665 Fairfield Dr., Merced
111 Ranch Dr., Milpitas
27142 La Paz Rd., Mission Viejo
3900 Sisk Road, Modesto
3615 Elkhorn Blvd., North Highlands
1702 Oceanside Blvd., Oceanside
4430 Ontario Mills Pkwy, Ontario
1875 Oro Dam Blvd E., Oroville
6646 Clark Rd., Paradise
47 Fair Ln., Placerville
30501 Avenida De Las Flores, Rancho Santa Margarita
