NEW YORK — Big Lots, a well-known discount retailer, may close up to 315 of its locations nationwide, according to a recent filing with the Securities and Exchange Commission (SEC). This potential move comes as part of the company’s ongoing efforts to restructure its business and improve financial stability.
In the filing, Big Lots disclosed that it had increased the number of permitted store closures to a maximum of 315, up from the 150 previously allowed. This decision follows amendments made in late July to the company’s credit agreement and term loan facility.
A spokesperson for Big Lots emphasized that while the majority of the company’s stores remain profitable, the decision to close certain underperforming locations is part of a broader strategy to operate more efficiently. “These efforts include taking decisive actions to operate efficiently and reviewing our store footprint on an ongoing basis to make sure we’re best positioned to serve our customers and our business,” the spokesperson said.
The spokesperson added that the company is focusing on returning to its roots by emphasizing value and bargains, which have been key components of its brand identity.
Among the stores potentially facing closure are several locations in New York and New Jersey, including:
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
New Jersey:
- 471 Green St., Woodbridge
The company has not provided a specific timeline for the closures, and the final number of store closures will depend on the ongoing evaluation of the store footprint and overall performance.
Big Lots is confident that these steps will help position the company for future success, with a renewed focus on its core value proposition.
