Big Lots plans nearly 300 store closures in 2025 following bankruptcy filing

Big Lots plans to close nearly 300 additional stores in 2025, following its bankruptcy filing in September. The chain has already shut down over 400 locations and aims to reduce its footprint to improve efficiency. California will see the most closures, with 75 stores shutting down. Florida will lose 26 locations, while Arizona and Washington will close 17 and 18 stores, respectively. The closures are part of a deal with Gordon Brothers Retail Partners, allowing Variety Wholesalers to acquire some locations. Big Lots is adjusting its strategy amid declining sales and increased competition in the retail sector.