MoneyWatch
By Kate Gibson
Edited By Anne Marie Lee
/ MoneyWatch
Big Lots plans to close as many as 315 stores nationwide, the embattled discount retailer disclosed in a regulatoryfiling.
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
Colorado
Connecticut
Florida
Illinois
Indiana
- 138 W Hively Ave., Elkhart
- 3958 Illinois Rd., Fort Wayne
- 8401 Michigan Rd., Indianapolis
- 2136 E Markland Ave., Kokomo
- 2806 Frontage Rd., Warsaw
Kansas
Kentucky
Louisiana
- 3161 E Texas St., Bossier City
- 2354 S Range Ave., Denham Springs
- 3557 Ambassador Caffery Pkwy., Lafayette
- 339 South Dr., Ste D, Natchitoches
Maine
- 1100 Brighton Ave., Portland
Maryland
Massachusetts
Michigan
Minnesota
- 2614 Bridge Ave., Albert Lea
Missouri
Montana
New Hampshire
- 216 Washington St., Claremont
Nevada
- 1601 W Craig Rd., N Las Vegas
New Jersey
- 471 Green St., Woodbridge
New York
- 2276 Delaware Ave., Buffalo
- 698 S Ogden St., Buffalo
- 4406 State Route 5 & 20, Ste 129, Canandaigua
- 260 Voice Rd., Carle Place
- 231 Centereach Mall, Centereach
- 2309 N Triphammer Rd., Ithaca
- 4645 Commercial Dr., New Hartford
- 316 Cornelia St., Plattsburgh
- 43 Burnett Blvd., Poughkeepsie
- 751 Upper Glen St., Ste 2, Queensbury
North Carolina
Ohio
Oregon
Pennsylvania
South Carolina
South Dakota
Tennessee
Utah
Vermont
Virginia
Washington
Wisconsin
Wyoming
- 3501 E Lincolnway, Cheyenne
Kate Gibson
Kate Gibson is a reporter for CBS MoneyWatch in New York, where she covers business and consumer finance.