Big Lots closing up to 40 stores across the US—including these 3 Illinois locations

We now know which locations Big Lots will be closing across Illinois.

Big Lots, the Ohio-based retail discount chain announced on July 10 the company’s plans to close up to 40 locations across the country this year, due to financial challenges the brand is facing in a post-Covid market.

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According to the Big Lots website, three locations in the Chicagoland area will be closing by the end of the year and are already offering up to 20% off merchandise.

Here's a look at which locations are closing:

• Lockport at 340 Summit Drive
• Niles at 7233 W. Dempster St.
• Crest Hill at 1608 N. Larkin Ave.

The remaining 26 Big Lots locations will remain open as of now, including both locations in Springfield and the Peoria location in the central Illinois area and Machesney Park in the northern part of the state.

The company reported 1,392 operating stores at the start of 2024, down from 1,425 in the first quarter of 2023 – and in the U.S. Securities and Exchange Commission filing , the retailer said the plan is to close 35 to 40 stores by the end of 2024, while opening three.

“In 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 filing from Big Lots said.

According to the filing, sales dropped over 10% in the first quarter of this year compared to 2023 and long-term debt increased by $72.2 million, bringing the total from $501.6 million in the first quarter of 2023 to $573.8 million for the first quarter of this year.

It is unclear if Big Lots will file for bankruptcy in the near future.

Claire Grant writes about business, growth and development and other news topics for The State Journal-Register. She can be reached at CLGrant@gannett.com; and on X (Formerly known as Twitter): @Claire_Granted

This article originally appeared on State Journal-Register: Big Lots closing up to 40 stores across the US—including these 3 Illinois locations