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October 12, 2024
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More than 50 Big Lots stores to close in California

More than 50 Big Lots stores to close in California

Big Lots, the discount retail chain known for carrying a wide assortment of goods, is closing more than 50 stores in California amid flagging sales that have thrown the chain’s future into question.

In a June filing with the Securities and Exchange Commission, the company said it expects to close 35 to 40 stores in 2024. However, according to closure notices on individual store websites, the actual number will be higher.

Big Lots currently operates 109 stores in California, the second highest in the country behind Texas. There are about 1,400 Big Lots nationwide. The chain is known for offering an extensive and somewhat eclectic collection of items at low prices, including brand-name goods and discount products.

“Our customers may be on a tight budget,” the Big Lots website says, “or they may just enjoy our treasure-hunt atmosphere.”

Big Lots, however, has been struggling. The company reported a net loss of $205 million in the quarter ending May 4 — similar to the $206-million loss it posted for the same period last year. Net sales of around $1 billion in the quarter marked a 10% decrease compared with the same period last year.

Those losses, the rate at which the company has spent down cash reserves in recent years, and gloomy projections for the future “raise substantial doubt about our ability to continue as a going concern,” the company wrote in the filing.

Shares of the company closed Monday at $1.04, a nearly 87% decline from the start of the year.

Inflation and rising costs of goods have put pressure on retailers as many customers, especially those on a tight budget who may be drawn to discount chains such as Big Lots, limit their spending.

This year, California-based 99 Cents Only Stores announced the closure of all 371 of its locations, citing inflation and changes in consumer demand.

“We missed our sales goals due largely to a continued pullback in consumer spending by our core customers, particularly in high ticket discretionary items,” Big Lots President Bruce Thorn said in a statement. “We remain focused on managing through the current economic cycle by controlling the controllables.”

According to KTLA-TV, these are the California Big Lots stores marked for closure.

Anaheim: 1670 W. Katella Ave.; Anaheim, CA 92802
Anaheim: 6336 E. Santa Ana Canyon Road; Anaheim, CA 92807
Atascadero: 2240 El Camino Real; Atascadero, CA 93422
Atwater: 1085 Bellevue Road; Atwater, CA, 95301
Bakersfield: 1211 Olive Drive; Bakersfield, CA 93308
Bakersfield: 2621 Fashion Place; Bakersfield, CA 93306
Beaumont: 1782 E 2nd Street; Beaumont, CA 92223
Camarillo: 353 Carmen Drive; Camarillo, CA 93010
Santa Clarita/Canyon County: 19331 Soledad Canyon Road; Canyon County, CA 91351
Chico: 1927 E 20th Street; Chico, CA 95928
Concord: 2060 Monument Boulevard; Concord, CA 94520
Corona: 740 N Main Street; Corona, CA 92880
Culver City: 5587 Sepulveda Boulevard; Culver City, CA 90230
Delano: 912 County Line Road; Delano, CA 93215
El Cajon: 1085 E Main Street; El Cajon, CA 92021
Fairfield: 1500 Oliver Road; Fairfield, CA 94534
Folsom: 9500 Greenback Lane, Ste 22; Folsom, CA 95630
Fresno: 7370 N Blackstone Avenue; Fresno, CA 93650
Gilroy: 360 E 10th Street; Gilroy, CA 95020
Hercules: 1551 Sycamore; Hercules, CA 94547
Indio: 42225 Jackson Street, Ste B; Indio, CA 92203
La Mesa: 6145 Lake Murray Boulevard; La Mesa, CA 91942
Livermore: 4484 Las Positas Road; Livermore, CA 94551
Lompoc: 1009 N H Street, Ste M; Lompoc, CA 93436
Long Beach: 2238 N Bellflower Boulevard; Long Beach, CA 90815
Los Banos: 951 W Pacheco Boulevard; Los Banos, CA 93635
Manteca: 1321 West Yosemite, Avenue; Manteca, CA 95337
Merced: 665 Fairfield Drive; Merced, CA 95348
Milpitas: 111 Ranch Drive; Milpitas, CA 95035
Modesto: 3900 Sisk Road; Modesto, CA 95356
Oceanside: 1702 Oceanside Boulevard; Oceanside, CA 92054
Ontario: 4430 Ontario Mills Parkwasy; Ontario, CA 91764
Placerville: 47 Fair Lane; Placerville, CA 95667
Rancho Santa Margarita: 30501 Avenida De Las Flores; Rancho Santa Margarita, CA 92688
Redlands: 810 Tri City Center; Redlands, CA 92374
Riverside: 2620 Canyon Springs Parkway; Riverside, CA 92507
Rohnert Park: 565 Rohner Park Expressway; Rohner Park, CA 94928
Sacramento: 6630 Valley Hi Drive; Sacramento, CA 95823
Sacramento: 8700 La Riviera Drive; Sacramento, CA 95826
Salinas: 370 Northridge Mall; Salinas, CA 93906
San Bernardino: 499 W Orange Show Road; San Bernardino, CA 92408
Santa Clara: 3735 El Camino Real; Santa Clara, CA 95051
Santa Maria: 1417 S Broadway; Santa Maria, CA 93454
Santa Paula: 568 W Main Street, Ste B; Santa Paula, CA 93060
Santa Rosa: 2055 Mendocino Avenue; Santa Rosa, CA 95401
Simi Valley: 1189 Simi Town Center Way; Simi Valley, CA 93065
Stockton: 2720 Country Club Boulevard; Stockton, CA 95204
Temecula: 27411 Ynez Road: Temcula, CA 92591
Tracy: 2681 N Tracy Boulevard; Tracy, CA 95376
Turlock: 1840 Countryside Drive; Turlock, CA 95380
Ukiah: 225 Orchard Plz; Ukiah, CA 95482
Vacaville: 818 Alamo Drive; Vacaville, CA 95688
Visalia: 2525 S Monney Boulevard; Visalia, CA 93277
Woodland: 52 W Court Street; Woodland, CA 95695

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