Getting your Trinity Audio player ready...
|
Big Lots has announced that more stores will be closing nationwide this month—nearly 50 nationwide and several in California—including the Inglewood location at Manchester Blvd. and Crenshaw Blvd.
The discount retailer filed for Chapter 11 bankruptcy protection earlier this year. Court filing submitted at the end of September calls for a new wave of closures at 49 locations, in addition to nearly 300 closures announced in August.
Like many retailers, the company has been experiencing declining sales, rising costs and a downturn in consumer spending. Overall, the company reported a loss of $501.6 million in the first quarter of 2023 and $573.8 million the first quarter of this year
The closures come as another big blow to bargain hunters and low-income families. The popular chain of 99 Cent Only stores closed its doors in 143 Southern California locations in June.
In April, former president of Big Lots and the original Pic ’N Save brand, Mark J. Miller, launched an effort to save the 99 Cents Only stores.
`It’s a passion for me to try and do this deal because I think it’s such an iconic brand name and has such a great feel for Southern California,” Miller told Los Angeles Magazine. He was reportedly putting a team of investors together at the time. However, there have been no status updates since the closures.
Many Big Lots locations are having going-out-of-business sales. Some of the sales are 60% to 70% off. Check the company websites for the latest offers.