Is Your Big Lots Closing? Nearly 300 Stores Set to Shut Down Across the U.S.
Impact on Alabama Locations
As news spreads across Alabama, many residents are left wondering about Big Lots stores in their neighborhoods. The discount retail chain faces significant challenges, leading to the decision to close almost 300 outlets nationwide.
Store Closures Overview
Reports indicate that Big Lots plans to close as many as 40 stores in the coming year, but recent analysis suggests that a staggering 289 stores have been flagged for closure on the company’s website. This represents more than a 20% decrease in the total number of stores, which currently stands at 1,389 across the country.
Locations Affected in Alabama
Of the 29 Big Lots stores in Alabama, only the Troy store was initially identified for closure. However, additional locations, including Bessemer, Prattville, Sylacauga, and our very own Huntsville store at Northwest Westside Centre, now also feature banners announcing their closure with sales of up to 20%.
Financial Struggles and Future Considerations
The retail giant has been grappling with declining sales and increasing debt. In a recent quarterly report, Big Lots noted a 10% drop in sales compared to the previous year, alongside a concerning rise in long-term debt, which increased by over $72 million.
Earlier this year, the company hinted at the possibility of bankruptcy while announcing efforts to cut costs, boost sales, and manage its financial situation more effectively.
What’s Next for Employees and Shoppers?
The closures will undoubtedly impact both employees who may lose their jobs and customers who rely on these locations for affordable goods. As shoppers look for alternatives, many are keeping an eye on upcoming sales as the stores clear their inventory.
Closure List and Updates
For those interested in finding out if their local Big Lots store is affected, a complete list of closures by state is available for review. Be sure to check back for further updates as more information becomes available and as the company navigates these challenging times.
