New York CNN —Big Lots is closing more than 300 locations across the United States, or roughly 4% of its stores, following an earlier warning that its future was in “substantial doubt” amid ongoing financial troubles.
In a recent regulatory filing, Big Lots said it would increase the number of closures to 315 stores, part of an updated loan agreement to secure its finances.
A specific list wasn’t revealed, but Big Lots is listing closing sales at hundreds of its 1,389 stores on its website.
Bob’s Stores and 99 Cents Only Stores also went out of business earlier this year.
Shares of Big Lots (BIG) are down nearly 90% for the year.
Persons:
Lots, Bruce Thorn, “
Organizations:
New, New York CNN, CNN
Locations:
New York, United States, ”