A national discount retailer that’s in financial crisis has announced plans to close some of its nearly 1400 stores, including most of its locations in the Tri-Counties.
Big Lots has posted information online that it will shut down six of its eight stores on the Central and South Coasts. It’s another blow for consumers in the region looking for low price merchandise. It will mean the loss of hundreds of jobs in the region.
The listed shutdown includes stores in Atascadero, Santa Maria, Lompoc, Santa Paula, Camarillo, and Simi Valley. The only stores left in the region would be in Port Hueneme and Ventura.
The company has been dealing with rising operational costs and declining sales.
In one of its recent financial filings, the company reported a 10.2% drop in sales between the first quarter of 2023 and 2024. The company hasn’t filed for bankruptcy, but industry experts think it’s a possibility.
Earlier this year, another major discount retailer, the 99 Cents Only stores chain went out of business, closing a number of store in the Tri-Counties.
