Columbus, OH – Big Lots, Inc. has announced plans to close at least 50 of its 109 stores in California as part of its Chapter 11 bankruptcy restructuring. The move comes after the company entered a sale agreement with Nexus Capital Management LP.
Big Lots is closing underperforming stores nationwide to streamline operations and work toward profitability by 2025. The future of the remaining California locations is still under review, with more closures possible.
CEO Bruce Thorn stated that while many stores are profitable, the closures are essential for the company’s financial recovery. Big Lots continues to serve customers through in-store and online shopping as the restructuring progresses.
Further updates on store closures and the company’s future plans are expected later this year.
