Popular Company With Many New York Stores Closing 300 Locations

A popular retail company that recently announced closures is now closing about 25 percent of all locations.

Big Lots is now closing more than 300 stores, about a quarter of its locations in the U.S.

Big Lots Closing Many Locations

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During a June earnings report, Big Lots confirmed plans to close 35 to 40 stores by the end of 2024.

"The U.S. economy has continued to face macroeconomic challenges including elevated inflation, which has adversely impacted the buying power of our customers," the company states in the filing, obtained by Hudson Valley Post. "We currently expect to open 3 stores and close 35 to 40 stores."

Earlier this month, it was confirmed Big Lots was going to close about 289 locations.

At the time, company officials did say there was " "substantial doubt" about its ability to continue staying in business in the future.

Big Lots Now Closing Over 300 Locations Nationwide

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Now, the retail company is closing over 300 locations nationwide due to its ongoing financial issues.

Big Lots told CNN the company is “taking decisive actions to operate efficiently and reviewing our store footprint on an ongoing basis to make sure we’re best positioned to serve our customers and our business.”

Shares in the company have decreased by about 90 percent in 2024.

At Least 10 New York Locations Closing

A full list of closing locations hasn't been announced. But we know at least 10 locations in New York are closing, including one in the Hudson Valley.

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Buffalo, Long Island, Queensbury, Canandaigua, Ithaca, New Hartford, Plattsburgh, Poughkeepsie

The company said the closing stores are "underperforming” locations, adding most Big Lots are profitable.

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Closing dates haven't been announced. But closing sales haven't started or will start soon at the stores.

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Filed Under: New York News

Categories: Dutchess County, Hudson Valley News