COLUMBUS, Ohio — Big Lots, the Ohio-based discount retail giant, announced plans to close up to 40 underperforming stores this year due to ongoing financial difficulties and declining sales. Corporate executives have yet to disclose specific locations or potential closure time frames.
The company cited significant financial challenges, stating that it cannot sustain its current operations. Since last year, both sales and revenue have seen a dramatic drop. On January 2, 2024, Big Lots Inc. (BIG) stock fell from $7.99 a share to $1.21 on July 11, 2024, reflecting the company’s financial strain.
It remains unknown whether any of Ohio’s stores will be among those closing. Big Lots has emphasized its commitment to keeping stakeholders informed as decisions are finalized.
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