topic Re: Big Lots in Community Chat

Big Lots

SharkE — Mon, 09 Sep 2024 14:56:33 GMT

Going out of business next. Dropping like flies.

Penny's will be next their stores are a mess.

Re: Big Lots

They CallMe MRWILKES — Mon, 09 Sep 2024 16:19:51 GMT

Not a business liquidation. Not going out of business.

A Chapter 11 reorganization with a planned sale of assets to new ownership.

Yes, more store closures are likely, but not a complete operational shutdown.

The new owners aren't paying about $760 million+ for stores and leases just to shut everything down. Obviously, value in continued operations is seen.

They'll focus on the most profitable locations, which are many.

Expect the new owners to present the list of closures (and stores which remain) in the reorganization plan soon, likely by year's end.

As always, incomplete information posted.

Re: Big Lots

bonnie f — Mon, 09 Sep 2024 15:27:19 GMT

i really liked the kmart that closed where i live.. than yrs later they opened the big lots here... im not impressed... kmart was nicer i think.. i do go to big lots for toothpaste, dedorant etc... but the big lots here is always empty.. even the grand opening here i drove past everyday and was never more than a few cars.. and when i go in now, im usually the only one in there.. im really suprised this one isnt on the closing list.... i;m glad there not closing, because i do go there maybe 2 times a month.. but its not my old kmart lol

Re: Big Lots

MorningLover — Mon, 09 Sep 2024 15:41:58 GMT

"In a press release, the company cites challenges since the pandemic, current consumer spending trends, and “recent macroeconomic factors such as high inflation and interest rates that are beyond its control” as reasons for the filing but claimed the company’s underlying performance has been improving."

“We are proud of the work we do every day across Big Lots to provide our customers with unmistakable value and exceptional savings, as well as building stronger communities through our philanthropic efforts,” Big Lots President and CEO Bruce Thorn said in the release.

“The actions we are taking today will enable us to move forward with new owners who believe in our business and provide financial stability, while we optimize our operational footprint, accelerate improvement in our performance, and deliver on our promise to be the leader in extreme value.”

Re: Big Lots

PinkyPetunia — Mon, 09 Sep 2024 16:05:42 GMT

The Big Lots near me closed 3-4 years ago. I didn't buy much there but I'd rather have a store than no store. A gym opened in it's place.

Re: Big Lots

kitcat51 — Mon, 09 Sep 2024 17:00:52 GMT

Our Big Lots is closing, sad to see it go....so many empty stores but they keep building them & they set empty too.

Re: Big Lots

Puzzle Piece — Mon, 09 Sep 2024 17:04:03 GMT

Maybe a group of Q shoppers can buy them out.

😊

Re: Big Lots

I am still oxox — Mon, 09 Sep 2024 18:20:20 GMT

My husband just read me the same thing, there is no big lots anywhere near where we live

Re: Big Lots

Nightowlz — Mon, 09 Sep 2024 18:46:04 GMT

I just checked the list. Our store is not closing.

We had a smaller Big Lots years ago that did close.

The Big Lots we have now is a larger store. I have only been in there a couple of times.

Our Penney's closed Oct 2020. Far as I know we only have 2 stores in our Mall. There's 1 Chinese restaurant.

My doctor's office is in the Mall. She is moving down the street in new building when it's finished.

Re: Big Lots

beckyb1012 — Mon, 09 Sep 2024 18:42:36 GMT

The articles I read about the Chapter 11 says they will be closing some locations. My town as 2 and I would not be surprised if they close at least one of them.

Re: Big Lots

Kachina624 — Mon, 09 Sep 2024 18:46:37 GMT

J.C. Penn6y has been going out of business for 20 years yet they hang on.

Re: Big Lots

Nightowlz — Mon, 09 Sep 2024 18:47:53 GMT

@beckyb1012 wrote:
The articles I read about the Chapter 11 says they will be closing some locations. My town as 2 and I would not be surprised if they close at least one of them.

@beckyb1012

There's a list at Time Out. Just Google big lot closing list and time out to find list.

Re: Big Lots

beckyb1012 — Mon, 09 Sep 2024 18:52:16 GMT

@Nightowlz wrote:
@beckyb1012 wrote:
The articles I read about the Chapter 11 says they will be closing some locations. My town as 2 and I would not be surprised if they close at least one of them.
@beckyb1012

There's a list at Time Out. Just Google big lot closing list and time out to find list.

Thanks the only one closing in the big state of Texas is located in Dallas.

Re: Big Lots

They CallMe MRWILKES — Mon, 09 Sep 2024 19:16:59 GMT

The new owners, Nexus Capital, will be closing more stores than those already announced by Big Lots over the summer, pre-Chapter 11 filing.

They will likely close specific locations with expensive leases, rejecting those leases during proceedings.

Re: Big Lots

Karie2022 — Mon, 09 Sep 2024 19:19:12 GMT

@bonnie f wrote:
i really liked the kmart that closed where i live.. than yrs later they opened the big lots here... im not impressed... kmart was nicer i think.. i do go to big lots for toothpaste, dedorant etc... but the big lots here is always empty.. even the grand opening here i drove past everyday and was never more than a few cars.. and when i go in now, im usually the only one in there.. im really suprised this one isnt on the closing list.... i;m glad there not closing, because i do go there maybe 2 times a month.. but its not my old kmart lol

I miss our Kmart as well; always found what i was looking for when i went.

Re: Big Lots

Group 5 minus 1 — Mon, 09 Sep 2024 19:57:58 GMT

@Puzzle Piece Can't find your spoiler.

Re: Big Lots

Group 5 minus 1 — Mon, 09 Sep 2024 19:59:11 GMT

Did the same thing happen to Rite Aid? Our RA (in our little town) closed.

Re: Big Lots

Kachina624 — Mon, 09 Sep 2024 22:11:45 GMT

Re: Big Lots

SharkE — Mon, 09 Sep 2024 22:12:23 GMT

I went to get a Arby's roast beef sandwich in Amarillo, Tx they closed !

Gees ! Think they might be another one on another side of town. Don't know if it's closed or not.

Man, stores are here today and gone tomorrow !

Can't afford BBQ any more. Cost 11.00 a sandwich.

Ribs are 19 for half rack and 35 for full rack !

Just have to make your own I guess.

Re: Big Lots

AngelPuppy1 — Tue, 10 Sep 2024 09:57:05 GMT

I will have to try and find the list of closing stores. I hope ours is not. I shop there regularly and always buy my paper towels there. It's such an interesting store --- so many fun things. I have shopped at Big Lots for years and years. I hope they can make a go of it. It would be a great loss for our small town.