Discount retailer Big Lots is making headlines as it announces plans to close up to 315 stores across the U.S. This includes four locations in the Philly region, as the chain looks to address financial challenges and streamline its operations.
Based in Columbus, Ohio, Big Lots is known for offering affordable groceries, home furnishings, and toys. The decision to close additional stores comes after the company initially projected closing 150 locations. The Philadelphia area stores on the chopping block are listed as follows:
– 199 Franklin Mills Blvd., Philadelphia
– 713 E Baltimore Ave., Clifton Heights (Delaware County)
– 201 W. Lincoln Hwy., Exton (Chester County)
– 345 Scarlet Road, Kennett Square (Chester County)
While the exact closure dates have not been revealed, the company’s website showcases discounts of up to 20% at the listed stores. With the potential of up to 40 closures by the end of the year, this move will impact approximately 10% of Big Lots’ nationwide locations.
Notably, Northeast Philadelphia is home to a second Big Lots store at 15501 Bustleton Ave. in Somerton, with additional stores in Fairless Hills, Norristown, and Cherry Hill.
In a recent filing with the U.S. Securities & Exchange Commission, Big Lots attributed the need for closures to a 10% decline in first-quarter sales. CEO Bruce Thorn cited reduced consumer spending, especially on high-ticket discretionary items, as a key factor driving the decision.
As Big Lots navigates these changes, customers can expect discounts and sales at closing stores. Stay tuned for updates on when these locations will wrap up operations, and be sure to take advantage of deals while they last.