Big Lots to Close Up to 40 Stores This Year
Bankruptcy Rumors Swirl as Retailer Shifts Focus to Small Towns
Over 100 Big Lots Stores in California, Fate Unknown
Discount retailer Big Lots has announced plans to close 35 to 40 stores this year, amidst rumors of potential bankruptcy. The closures come as the company reports worsening financials and a challenging consumer market.
Big Lots has been struggling in recent months, facing increased competition from other discount retailers such as Dollar General and Five Below. The company had previously announced plans to shift its focus away from urban areas and towards smaller towns, but it is unclear if this strategy will be enough to save the struggling retailer.
Big Lots has 109 locations in California, but it is unknown whether any of these stores will be affected by the closures. The company has not yet released a list of the stores that will be closed, but it is expected that the closures will be announced in the coming weeks.
Big Lots is not the only discount retailer to struggle this year. In April, 99 Cents Only filed for bankruptcy, and other retailers have also announced store closures. The retail industry has been facing significant challenges in recent years, as consumers increasingly shop online and at discount stores.
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