Last month the ubiquitous discount retailer Big Lots announced it would close as many as 40 stores by the end of 2024 as its financials worsen in a tough consumer market. Now that number could be closer to 315 .
Initially, there were 11 Florida stores getting shuttered, according to Big Lots’ website. In a July 31 filing with the Securities and Exchange Commission , the big box discount chain allowed for many more store closings, along with updating its loan terms to lower its credit limit and raise the interest rate.
Now the website shows 26 of the chain’s 106 Florida locations will be shutting down, with sales up to 20% already started.
The Columbus Dispatch — a part of the USA TODAY Network — reported that the Columbus-based retailer had listed 293 locations as “closing soon” as of the beginning of August. The company’s store locator currently lists 1,389 locations nationwide. That’s down already from the 1,425 the chain listed 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,” Big Lots said in the filing.