Bankrupt Big Lots Closes Another Popular Location – More Shutdowns Ahead

Big Lots has shuttered another store as the struggling retailer continues to downsize its footprint across the country.

The discount chain, which has been facing financial difficulties, previously announced plans to close hundreds of locations in 2024. After filing for bankruptcy in September of that year, the company has been forced to close stores nationwide due to mounting debt, which court documents revealed had reached approximately $3.1 billion, affecting nearly 10,000 creditors.

California Locations Among Recent Closures

One of the latest closures took place in Watsonville, California, located about 40 miles south of San Jose. The store, situated in the Freedom Centre mall, is among the many Big Lots locations that did not survive the retailer’s financial struggles.

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Additionally, another store in Gilroy, California, was recently shut down as the chain moves forward with its closure plans.

Despite the widespread shutdowns, Big Lots was acquired by Gordon Brothers Retail Partners, which has allowed some locations to remain operational. However, more than half of the 901 stores that were still open at the time of the bankruptcy announcement are expected to close permanently.

New Tenants Taking Over Former Big Lots Spaces

Some of the vacant Big Lots stores are already being repurposed by other retailers.

For instance, discount grocery chain Aldi is set to take over a former Big Lots location in Maine. This move marks Aldi’s first store in the state.

The new Aldi store will be located in the Pine Tree Shopping Center in Portland, where the retailer has secured a lease agreement, pending municipal approval. While an exact opening date has not been confirmed, the 25,000-square-foot space will be a significant addition to Aldi’s expansion efforts in the U.S.

A spokesperson for the shopping center’s management company, Brixmor Property Group, confirmed the lease agreement, stating that more details would be shared as the process moves forward.

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Layla Hango

Layla Hango is a dedicated author at The Chieftain Spear, where she delves into stories that highlight cultural richness, social issues, and community empowerment. With a passion for storytelling that inspires and informs, Layla brings a fresh perspective to her writing. Her work resonates with readers seeking meaningful dialogue and a deeper understanding of diverse experiences. Through her articles, Layla aims to spark positive change and celebrate the strength of collective voices.

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