Is Big Lots Closing in New York?

During a recent shopping trip to Big Lots with my son, a fellow shopper approached me and raised a concern about the possibility of the store closing down, asking if I had heard anything.

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Although I hadn't heard anything about it at the time, I couldn't help but notice the somewhat disarrayed appearance of the store, which made me understand why that shopper might raise such a question.

Intrigued by the question, I decided to investigate the matter further. Is Big Lots closing its stores? According to a report from The U.S. Sun, the retail giant has already shut down approximately 50 stores in 2023, and it seems their closure spree is far from over. As part of their "multi-year strategic plan," Big Lots has announced the forthcoming closure of storefronts in New York, North Carolina, and Illinois by 2024.

This decision aligns with the trend in the retail industry, where several prominent companies, including Dollar Tree, have been downsizing and closing certain locations. Big Lots' move is attributed to their goal of enhancing store relevance and expanding their range of extreme bargains, as emphasized in a press release by Bruce Thorn, the President and CEO of Big Lots.

It is not unusual for businesses in the retail sector to assess their operations and adapt to evolve in response to changing market conditions and that is what Big Lots is doing.

For now, the only store in New York that the company has announced the closure of is its location in Colonie. This store, which serves customers in the downtown Albany area, will be holding final liquidation sales.

Specific information regarding the timeline for additional store closures, the locations of those stores that will be closed, and any alternative plans for the affected employees have yet to be disclosed.