Big Lots!Photo byShutterstock

Author’s Note

This article is based on corporate postings and accredited media reports. Linked information within this article is attributed to the following outlets: Big Lots!, ScrapeHero.com and San Luis Obispo Tribune via Yahoo Finance.

Introduction

Last month, the struggling Big Lots! company reported it may not have the cash necessary to survive much longer, as its ongoing liquidity issues have provoked what some industry analysts called an "irreversible" situation.

Today, it has been announced a longstanding California location is permanently closing.

For perspective, per ScrapeHero.com's most recently updated store location count: There are 1,392 Big Lots stores in the United States as of April 23, 2024. The state and territory with the most number of Big Lots locations in the US is Texas, with 116 stores, which is about 8% of all Big Lots stores in the US.

Let us explore.

Big Lots!, 2024

According to a June 22 report from TheStreet.com, Big Lots! CEO Bruce Thorn blamed the economy for the company's 10.2% drop in sales to $1.009 billion in the fiscal first quarter and loss of $132.3 million. For his part, however, Thorn pledged to continue efforts to improve the company's liquidity and keep the company open.

Despite the effort, based on a July 20 report from San Luis Obispo Tribune via Yahoo Finance, the company's Atascadero, California store is among several dozen permanently closing though no formal date has yet been specified.

From this report: A large, yellow sign outside of the Big Lots bargain store in Atascadero says the store will be closing soon... The discounter said it plans to close between 35 and 40 stores in 2024, while opening three new stores, according to a regulatory filing with the Securities and Exchange Commission.

Conclusion

This is a developing story. In the event of pertinent updates to matters discussed herein, inclusive of the store's specific closing date, I will share them here on NewsBreak.

Thank you for reading.