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ARTICLE · 23 OCTOBER 2024

Big Lots To Shutter More Stores

Farrell Fritz
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Big Lots, Inc. recently announced plans to shutter an additional 56 stores across 26 states in its continuing effort to downsize its footprint as part of its Chapter 11 bankruptcy and will conduct "going out of business"...

United StatesInsolvency/Bankruptcy/Re-Structuring
Darren A. Pascarella
Darren A. Pascarella

Big Lots, Inc. recently announced plans to shutter an additional 56 stores across 26 states in its continuing effort to downsize its footprint as part of its Chapter 11 bankruptcy and will conduct "going out of business" sales at these locations. This is the fourth round of closures that the company announced since filing for bankruptcy in September 2024.

The one-stop shop home discount retailer operated more than 1,300 stores across 48 states when it filed for bankruptcy in the U.S. Bankruptcy Court for the District of Delaware (Case No. 24-11967). The closure of over 200 locations has been announced so far, with the total number of closures dependent on, among other things, the company's progress in negotiations with landlords for lease modifications.

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