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Big Lots To Begin 'Going Out Of Business' Sales At Nearly 1,000 Remaining Stores Big Lots To Begin 'Going Out Of Business' Sales At Nearly 1,000 Remaining Stores
Big Lots To Begin 'Going Out Of Business' Sales At Nearly 1,000 Remaining Stores Big Lots has announced plans to close all of its remaining 963 stores, initiating "going out of business" sales following its Chapter 11 bankruptcy filing in September. The company says it's started the process of closing stores in 48 states and liquidating inventory under its court-supervised Chapter 11 bankruptcy proceedings.  The decision comes as the retailer seeks to maximize value for stakeholders while exploring potential going-concern sale opportunities. "We all have worked extremely hard and have taken every step to complete a going concern sale," Big Lots' President and Chie…

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by Joe Lombardi
Business
Advance Auto Parts To Close Over 700 Stores Advance Auto Parts To Close Over 700 Stores
Advance Auto Parts To Close Over 700 Stores A nationwide auto parts retailers says it will close over 700 stores as part of “a strategic plan to improve business performance.” Advance Auto Parts, which has about 4,800 total stores, and locations in almost every state, made the announcement on Thursday, Nov. 14. The affected outlets will close by May 2025 and are made up of 523 corporate stores, and 204 independently owned locations. In addition, four distribution centers will also close. Specific locations to be closed have not yet been announced. In announcing the move, President and Chief Executive Officer Shane O’Kelly said…

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by Joe Lombardi
Business
Walgreens To Close 1,200 Stores Walgreens To Close 1,200 Stores
Walgreens To Close 1,200 Stores Walgreens plans to close about 1,200 stores over three years amid a decline in prescription drug payments and a rise in online competition. About 500 closures will come in 2025, the company announced in a statement released Tuesday morning, Oct. 15. Specific sites for store closures were not announced. Walgreens said its operating loss in fiscal 2024 was $14.1 billion, an increase of 104.5 percent compared to the year-ago period. Retail sales decreased 3.5 percent compared with the year-ago quarter, "reflecting a challenging retail environment and continued channel shift," Walgreens s…

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by Joe Lombardi
Business
7-Eleven To Close Hundreds Of Stores 7-Eleven To Close Hundreds Of Stores
7-Eleven To Close Hundreds Of Stores Convenience store chain 7-Eleven is closing hundreds of stores in North America. Parent company Seven & I Holdings said that the 444 locations were “underperforming.” They make up about 3 percent of 7-Eleven's total of around 13,000 outlets in the US, Canada, and Mexico. Specific sites of the stores have not yet been released. In announcing the closures, the company said that 7-Eleven stores saw a 7.3 percent decline in traffic in August, saying a "pullback in consumer spending has persisted beyond prior expectations" that has affected store traffic and sales growth "as consu…

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by Joe Lombardi
Business
Big Lots To Close 3 CT Stores, Here's Where Big Lots To Close 3 CT Stores, Here's Where
Big Lots To Close 3 CT Stores, Here's Where Discount retail chain Big Lots plans to close around 40 stores this year, according to a filing with the Securities & Exchange Commission (SEC). It currently has around 1,425 stores nationwide. Six stores in New York, Connecticut, and Massachusetts are slated to close, with both New York stores on Long Island. No store closures are scheduled for New Jersey. The company cited rising costs and inflation as reasons for the move and said a bankruptcy filing could be coming. Stores in the Northeast slated for closure are as follows: New York 260 Voice Road, Carle Place 231 Centere…

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by Joe Lombardi
Lifestyle
Stop & Shop To Close Location In Fairfield County, New Supermarket To Take Over Stop & Shop To Close Location In Fairfield County, New Supermarket To Take Over
Stop & Shop To Close Location In Fairfield County, New Supermarket To Take Over A Stop & Shop store is closing in Connecticut due to declining revenue, as is the M&T Bank inside the supermarket due to the closure.  Located in Bridgeport at 2145 Fairfield Ave., the store will close early next year, said Caroline Medeiros, a spokeswoman with Stop & Shop. "Stop & Shop has made the difficult decision to terminate the lease for our store located at 2145 Fairfield Ave., in Bridgeport, Connecticut, as the store was not meeting financial expectations," Medeiros said. All associates will be allowed to transfer to other Stop & Shop locations, she s…

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by Kathy Reakes
News
Popular CVS Store Closing In CT Popular CVS Store Closing In CT
Popular CVS Store Closing In CT A popular CVS Pharmacy store in Connecticut has announced it is closing after decades in business.  The store, located in Hartford County in West Hartford at 978 Farmington Ave., is one of six CVS pharmacies in the area, with an additional store located inside Target at Bishops Corner. Company officials said the store will close on Wednesday, Sept. 20. "Maintaining access to pharmacy services in the communities we serve is an important factor we consider when making store closure decisions," said Amy Thibault, a spokeswoman for CVS.  The closing sign.Daily Voice/Cecilia Levine Thibaul…

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by Kathy Reakes
Business
CVS To Close 900 Stores As It Adjusts To Increasing Number Of Online Shoppers CVS To Close 900 Stores As It Adjusts To Increasing Number Of Online Shoppers
CVS To Close 900 Stores As It Adjusts To Increasing Number Of Online Shoppers Nearly one thousand CVS stores are set to close over the next three years as the retail giant continues to pivot away from retail and leans into the company's healthcare services. On Thursday, Nov. 18, the company announced that it planned to shut down at least 300 stores annually for the next three years as it re-evaluates its business strategy. The closures will begin in spring 2022. CVS made the announcement as it continues to contend with digital competition and online shopping, which was exacerbated during the COVID-19 pandemic, forcing the company to pivot its plans for the future. …

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by Zak Failla