Business

Big Lots will close upwards of 40 stores this year

Where the closures will happen is still up in the air.

Justin Sullivan / Getty Images

July 12, 2024

1 minute to read

The discount retail chain Big Lots is closing upwards of 40 stores this year, but which locations will close remains unknown.

In a June filing with the U.S. Securities and Exchange Commission, Big Lots said 35 to 40 of its 1,392 stores nationwide will close this year. The company also plans to open three new stores.

Big Lots blamed the U.S. economy, which is facing macroeconomic challenges such as elevated inflation that have “adversely impacted the buying power of our customers,” the filing said.

The financial disclosure showed that sales dropped 10.2% between the first quarters of 2023 and 2024, resulting in a loss of about $114.5 million.

The filing did not include which stores would be closing, so it is unclear if any stores in the region will close.

Big Lots operates in 47 states and has 23 locations in Massachusetts, 16 in Connecticut, five in Maine, six in New Hampshire, and one in Rhode Island.

Headquartered in Columbus, Ohio, Big Lots is a home discount retailer and a Fortune 500 company. The store focuses on home essentials such as furniture, kitchenware, groceries, and personal care.

Big Lots did not return a request for comment on which stores will be closing.