Big Lots is closing stores to cut its overheads in a bid to survive.
Discount retailer, Big Lots is facing big financial trouble, with news that the retailer is planning to close almost 300 stores across the country.
The news follows the company first announcing back in June that it was facing financial strain on its finances, and had plans to close 40 under-performing stores to help ease its financial woes, but this figure has now jumped dramatically, with at least 289 of the companies1389 stores facing the axe, that's a 20% decrease in stores.
Here in Orlando, three stores are set to close, 11230 S Orange Blossom Trl, 11672 E Colonial Dr., and 1801 S Semoran Blvd.
Big Lots saw a net sale decrease of $114.5 million from the first quarter of 2023 to Q1 this year, federal findings show. The decrease amounts to 10.2% of the company’s net sales.
The company’s long-term debt also increased by $72.2 million from Q1 2023 to Q1 2024 — racking up a total of $573.8 million in long-term debt.
Here is the complete list of 26 Florida stores currently slated for closure:
21697 State Rd., 7, Boca Raton
25191 Chamber Of Commerce Dr., Bonita Springs
901 N Congress Ave., Boynton Beach
7381 52nd Pl E, Bradenton
328 E Sugarland Hwy, Clewiston
4847 Coconut Creek Pkwy, Coconut Creek
2400 W International Speedway, Daytona Beach
34940 Emerald Coast Pkwy, Destin
15271 Mcgregor Blvd., Fort Myers
1761 E Hallandale Beach Blvd., Hallandale
3921 Oakwood Blvd., Hollywood
8265 W Flagler St., Miami
5580 Nw 167th St., Miami Lakes
2882 Tamiami Trl E, Naples
700 Blanding Blvd, Ste 1, Orange Park
11230 S Orange Blossom Trl, Orlando
11672 E Colonial Dr., Orlando
1801 S Semoran Blvd., Orlando
7067 W Broward Blvd., Ste B, Plantation
1440 Ne 23rd St., Pompano Beach
11854 Us Highway 19, Port Richey
511 N State Rd. 7, Royal Palm Beach
3750 Bee Ridge Rd., Sarasota
2236 Se Federal Hwy, Stuart
12601 Citrus Plaza Dr., Tampa
41306 Us Hwy 19 N, Tarpon Springs
For more information: https://www.biglots.com/.
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