47°
The retailer, which operates more than 1,400 stores nationwide - including 27 in Maryland - is planning to shutter the doors of approximately 40 locations.
The company cited rising costs and inflation as reasons for the move, and a bankruptcy filing could reportedly be on the way.
None of Virginia's 42 Big Lots stores are among those listed.
In Maryland, stores in Reisterstown, Laurel, and Lexington Park are reportedly among the dozens being closed across the country.
"While we made substantial progress on improving our business operations in Q1, 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 and CEO Bruce Thorn said in June.
"As we move forward, we're taking aggressive actions to drive positive comp sales growth in the latter part of the year and into 2025, and to maintain year-over-year gross margin rate improvements, all driven by progress on our five key actions."
Want breaking news in the DMV as it happens, or want to contribute? Join the DMV All Incidents Facebook group.
Click here to follow Daily Voice Waldorf and receive free news updates.
