Big Lots Closing 35-40 Stores, Bankruptcy Possible

Discount Retailer Struggles Amidst Economic Headwinds

Major Discount Retailer Faces Uncertain Future

Discount retailer Big Lots has announced plans to close between 35 and 40 stores this year, casting doubt on the company's long-term viability. The announcement comes as the retailer faces significant economic challenges, including rising inflation and supply chain disruptions.

In a recent regulatory filing, Big Lots disclosed its intention to close 25 to 30 stores while opening three new locations. However, this limited expansion plan suggests the company is struggling to adapt to the changing retail landscape.

Analysts have expressed concerns about Big Lots' financial stability, suggesting that bankruptcy could be on the horizon. The company's debt load and declining sales have raised red flags, putting its future at risk.

The closures will affect 27 locations in New Jersey, adding to a growing list of struggling retailers in the region. The closures are a blow to both employees and customers, highlighting the tough economic environment that many businesses are facing.

Big Lots is not the only retailer grappling with these challenges. Other major retailers, such as Kohl's and Bed Bath & Beyond, have also closed stores and announced plans to downsize.