The two Springfield Big Lots stores were spared from a round of nationwide closures that took place earlier this year, but now the company has announced plans to close all of its remaining locations.
A statement posted to the Big Lots website Dec. 19 read: “We have made the difficult decision to begin conducting going out of business sales at all remaining Big Lots store locations.”
Big Lots, a discount retailer headquartered in Columbus, Ohio, has more than 900 stores across the U.S. It opened a second Springfield location in White Oaks Plaza in November 2018, taking over the former Toys R Us space after that retailer filed Chapter 11 bankruptcy. That store joined the original Springfield Big Lots at 3173 S. Dirksen Parkway.
The company has closed numerous underperforming stores since 2023, including three in the Chicago area earlier this year. Big Lots filed for Chapter 11 bankruptcy protection on Sept. 9, citing declining sales due to rising interest rates, and announced plans to sell the company to Nexus Capital Management. However, the Dec. 19 company statement said it “does not anticipate completing its previously announced asset purchase agreement with Nexus Capital Management, though it continues to work toward completing an alternative going concern transaction with Nexus or another party. The company’s goal would be to complete a sale by early January.”
Even if a sale happens, it will not prevent the store closures, and going out of business sales are already underway. Big Lots said it does not have exact dates for individual store closures, noting that “when a closing store will permanently close is based on available remaining inventory.”
