KENTWOOD, Mich — Big Lots, a discount retail chain, is closing stores in Michigan.
The retailer shared in a recent filing to the Securities and Exchanges Commission they planned to close between 35 to 40 stores while opening three in 2024.
In June, Big Lots reported a net loss of $205 million in Q1 this year, seeing a decline in sales and indicated there "are still a significant number of underperforming stores that we are working hard to address."
Big Lots President and CEO Bruce Thorn said in a June release while the company has made improvements, they still missed their sales goals "due largely to a continued pullback in consumer spending by our core customers, particularly in high ticket discretionary items."
"The current financial performance does not yet reflect the stronger business model that we've created through our five key actions, but we expect the fruits of those efforts to become more apparent in the back half of the year," Thorn said.
According to the retailer's website, Michigan is home to 46 stores, including two in Grand Rapids.
Those impacted by the closings include a Kentwood location.
List of Michigan stores closing:
It's not clear how soon these locations will close their doors for good.
The company is closing stores in California, Indiana and Ohio as well.
Big Lots, which is headquartered in Columbus, Ohio, operates more than 1,300 stores in 48 states.
