HomeNewsNationalNational Big-Box Retailer Closing Dozens Of Stores, May Go Bankrupt

National Big-Box Retailer Closing Dozens Of Stores, May Go Bankrupt

Things are looking bleak for yet another large, national retailer. Discount home goods chain Big Lots announced plans to close down 35 to 40 stores this year amid financial struggles. There is also a strong possibility they may go bankrupt.

The news came in a fiscal report the company recently filed with the SEC. In it, they explain how “elevated inflation” has led to customers buying less, causing Big Lots big losses. The chain goes on to note that there is “substantial doubt” in their ability to continue to operate.

With losses of over $100 million, it’s been a challenging time for Big Lots. Their stock has dropped 52% in the past month and it is down 84% since this time last year.

As yet, there is no word on which of the chain’s 1,400 stores will be closing, or what might happen to all their locations if the company does need to declare bankruptcy.

If they do go bankrupt, they certainly wouldn’t be the first popular national chain to do so. In recent months, giant brands with stores nationwide like Bed, Bath & Beyond, Christmas Tree Shops and Tuesday Morning, each needed to declare bankruptcy and shutter all of their locations.

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