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  • The Desert Sun

    These 48 California Big Lots stores are closing. Here's what to know

    By James Ward, Palm Springs Desert Sun,

    7 hours ago

    https://img.particlenews.com/image.php?url=44ZIMs_0ud2XOj000

    Nearly 50 California Big Lots will close as the company struggles with a challenging consumer market.

    In an early July filing to the U.S. Securities and Exchange Commission , the discount retailer said it planned to close 35 to 40 stores this year and open three. The company reported 1,392 operating stores at the start of 2024, down from 1,425 in the first quarter of 2023.

    “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.

    Here's what to know about the Big Lots closures and which California stores are closing.

    These California Big Lots stores are closing

    California has 109 Big Lots stores, second only to Texas (116) in the nation. According to its website , the discount chain has locations all over California, including three in Fresno, the most in one city in the state.

    The following 48 California Big Lots locations had a banner on the website indicating the location would close and shoppers could receive up to 20% off:

    Why is Big Lots closing?

    Like many others, the retailer 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 its ability to continue operating, leading to speculation of a potential bankruptcy filing.

    USA TODAY NETWORK contributed to this report.

    This article originally appeared on Palm Springs Desert Sun: These 48 California Big Lots stores are closing. Here's what to know

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