Will Big Lots Close Any Maine, Massachusetts, or New Hampshire Stores in 2024?

As we continue to deal with insane levels of inflation, most Mainers are feeling the pain.

As a result, many people who would not normally hunt for bargains are turning to discount stores.  This is not necessarily because they need to, but saving some money on the necessities allows them to have more money to spend on entertainment or to put into savings.

In addition to Dollar General, Dollar Tree, and local discount stores like Caswells, we spend quite a bit of money at Big Lots.

The store chain that we now know as Big Lots got its start in Columbus, Ohio, in 1967.  The company was formed as Consolidated Stores Corporation by a man named Sol Shenk.  In 1982, the company opened its odd lots closeout store.  Over the years, the chain expanded beyond Ohio.  By 2023, it had over 1,400 locations.

Given how the current economy is pushing people to hunt for bargains, you would think the discount store chain would be doing really well.  Apparently, that is not the case.

Big Lots announces the closure of stores

In October of 2023, the chain announced that it would be filing for Chapter 11 bankruptcy protection.  This filing led them to close over 50 stores in 2023.

It looks like the closures will continue in 2024.

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According to an article in USA Today, the company is continuing the see a drop in sales.  The article explains that their sales have dropped 10.2% since the first quarter of 2023.  That equates to about $115 million in sales.

In a filing with the SEC, the company’s managers say they plan to close between 35 and 4 stores in 2024.

What about New England Big Lots stores?

Will the retain giant be closing locations in Maine?  At this point, we don’t know.  So far, they have not announced which stores will be closing.

When we find out more, we will pass the information on.