Popular company with many New York branches closes 300 locations

A popular retail company that recently announced closures is now closing around 25 percent of its locations.

Big Lots is now closing more than 300 stores, about a quarter of its locations in the US

Big Lots closes many locations

In a June earnings report, Big Lots confirmed plans to close 35 to 40 stores by the end of 2024.

“The U.S. economy continues to face macroeconomic challenges, including elevated inflation, which negatively impacts our customers’ purchasing power,” the company said in a statement obtained by Hudson Valley Post. “We currently anticipate opening three stores and closing 35 to 40 stores.”

Earlier this month, it was confirmed that Big Lots would close approximately 289 locations.

At the time, the company said there were “significant doubts” about the company’s ability to continue its business operations in the future.

Big Lots is now closing over 300 locations nationwide

Now the retail company is closing over 300 locations across the country due to ongoing financial problems.

Big Lots told CNN that the company is “taking decisive actions to operate efficiently and continually reviewing our store footprint to ensure we are best positioned to serve our customers and our business.”

The company’s shares lost around 90 percent of their value by 2024.

At least 10 New York locations close

A full list of closures has not yet been announced, but we do know that at least 10 locations in New York will be closing, including one in the Hudson Valley.

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Buffalo, Long Island, Queensbury, Canandaigua, Ithaca, New Hartford, Plattsburgh, Poughkeepsie

The company said the stores to be closed were “underperforming” locations, adding that most Big Lots stores were profitable.

Online shopping habits continue to cause traditional retailers to close their doors

Spencer Platt/Getty Images

Closing dates have not yet been announced, however clearance sales have not yet started or will begin soon in stores.

Goodbye: Supermarket chain with 60 New York stores confirms closures

Big Lots is opening a location in the Hudson Valley. CLICK HERE to find out where.

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