Big Lots is closing up to 40 stores across America. Will Kentucky locations be impacted?

Discount retailer Big Lots expects to close up to 40 stores this year as it battles with worsening financials and a tough consumer market.

According to a filing to the U.S. Securities and Exchange Commission , the retailer plans to close 35-40 stores this year and open 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.

Why is Big Lots closing stores?

The retailer, like many others, has grappled with declining sales amid rising prices and a downturn in consumer spending. According to the financial disclosure, sales dropped 10.2% between the first quarters of 2023 and 2024, equating to a loss of about $114.5 million.

The company also took on an additional $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. The company also said it had "substantial doubt" about the ability of the company to continue operation, leading to speculation of a potential bankruptcy filing.

Will Big Lots close stores in Kentucky?

The document did not disclose the locations at which stores would be closing.

Kentucky stores include:

• 777 Bypass Road, Brandenburg
• 1714 Perryville Road, Danville
• 200 Sycamore St., Elizabethtown
• 1300 US Highway 127, Frankfort
• 1651 Paris Pike, Georgetown
• 820 Lane Allen Road, Lexington
• 1980 Pavilion Way, Lexington
• 4025 Poplar Level Road, Louisville
• 4121 Shelbyville Road, Louisville
• 5518 New Cut Road, Louisville
• 6650 Dixie Hwy., Louisville
• 5252 Bardstown Road, Louisville
• 370 Kroger Center, Morehead
• 1342 Indian Mound Drive, Mount Sterling
• 472 Eastern Byp, Richmond
• 445 Hwy 44 E, Shepherdsville
• 440 New Albany Plaza New Albany, Indiana
• 706 E. Lewis & Clark Parkway, Clarksville, Indiana
• 1345 Clifty Drive, Madison, Indiana
• 2000 E. Tipton St., Seymour, Indiana

Contact IndyStar reporter Cheryl V. Jackson at cheryl.jackson@indystar.com or 317-444-6264. Follow her on X: @cherylvjackson .

This article originally appeared on Louisville Courier Journal: Big Lots is closing up to 40 stores across America. Will Kentucky locations be impacted?