Big Lots is closing up to 40 stores across America. Will Indiana 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 to 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 of debt, 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 its ability to continue operations, leading to speculation of a potential bankruptcy filing.

Will Big Lots close stores in Indiana?

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

Indiana stores include:

• 4358 S. Scatterfield Rd., Anderson
• 10321 East U.S. Route 36, Avon
• 3620 W. 3rd St., Bloomington
• 706 E. Lewis & Clark Parkway, Clarksville
• 3075 E. 25th St., Columbus
• 1424 Darlington Ave., Crawfordsville
• 1612 N. State St., Greenfield
• 3958 Illinois Rd., Fort Wayne
• 6128 Stellhorn Rd., Fort Wayne
• 1538 N. Morton St., Franklin
• 2080 N. Jefferson St., Huntington
• 8401 Michigan Rd., Indianapolis
• 6225 Allisonville Rd., Indianapolis
• 5520 Madison Ave., Indianapolis
• 1650 E. County Line Rd., Indianapolis
• 10235 E. Washington St., Indianapolis
• 2136 E. Markland Ave., Kokomo
• 2525 E. Market St, Logansport
• 1345 Clifty Dr., Madison
• 1535 S. Western Ave., Marion
• 1795 W. Mcgalliard Rd., Muncie
• 440 New Albany Plaza New Albany
• 918 W. Lincoln Hwy., New Haven
• 1930 E. Connor St., Noblesville
• 2000 E. Tipton St., Seymour
• 1840 E. Michigan Rd., Shelbyville
• 2806 Frontage Rd., Warsaw

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

This article originally appeared on Indianapolis Star: Big Lots is closing up to 40 stores across America. Will Indiana locations be impacted?