Big Lots closing 13 stores in Maryland and Virginia. Here's where
Up to 315 Big Lots locations could be facing potential closure, a Securities & Exchange Commission filing from Friday indicated.
The company disclosed in the filing that it had upped the number of permitted store closings to a maximum of 315 as part of late July amendments to a credit agreement and term loan facility. That marked a 165-store increase from the 150 closings previously permitted.
Why is Big Lots closing stores?
"Big Lots continues to provide incredible value and remarkable discoveries for our customers as we execute a clear plan to build a stronger business. These efforts include taking decisive actions to operate efficiently and reviewing our store footprint on an ongoing basis to make sure we're best positioned to serve our customers and our business," a Big Lots spokesperson told FOX Business.
"While the majority of our stores are profitable, we have made the difficult decision to close certain underperforming stores. We are confident that the steps we are taking will best position the company for the future as we return to our roots, focus on owning the bargain space, and deliver unmistakable value to our customers."
Big Lots had indicated earlier in the summer that this year had 35 to 40 closures and three openings expected. At the same time, it flagged "substantial doubt about the Company’s ability to continue" amid an inflation-related pullback in its shoppers’ spending, as previously reported by FOX Business.
Big Lots stores closing in Maryland and Virginia
Here are the Big Lots stores in Maryland and Virginia that could be closing.
Maryland
- 4420 Mitchelville Rd., Bowie
- 6623 Governor Ritchie Hwy., Glen Burnie
- 3331 Corridor Marketplace, Laurel
- 21800 N Shangri La Dr., Unit 20, Lexington Park
- 11989 Reisterstown Rd. #a, Ste A, Reisterstown
Virginia
- 590 Branchlands Blvd., Charlottesville
- 736 Warrenton Rd., Unit 102, Fredericksburg
- 2110 Wards Rd., Lynchburg
- 7743 Sudley Rd., Manassas,
- 5900 E. Virginia Beach Blvd, Norfolk
- 8533 Midlothian Tpke., North Chesterfield
- 1650 General Booth Blvd., Ste 200, Virginia Beach
- 14603 Telegraph Rd., Woodbridge