Big Lots announces closures of many of its locations throughout the U.S. including the Culver City store on Sepulveda Blvd. The cashiers were so nice, stores were always like a treasure trove of unexpected items, everything from a plug-in fireplace and mantel to an interesting snack aisle to patio furnishings. The store stocks items from production overruns, discontinued products and more, which explains the interesting hodgepodge of inventory. Right now, the chain's website doesn't mention anything about store closures, but members have gotten emails stating their local store is closing. Driving past these locations, a big banner announces the closure as well.
The closing come on the heels of the recent closings of all three hundred and seventy one stores.
Sol Shenk founded the company in 1967 that is now Big Lots. Shenk loved making crazy closeout deals, particularly on auto parts and all kinds of vehicles. In 1970 the company began operating as Consolidated International. Consolidated launched the Odd Lots/Big Lots closeout chain in 1982. Over the years the chain grew to include stores doing business as Big Lots, Odd Lots, Mac Frugal's Bargains * Closeouts, and Pic 'N' Save.
The company said that inflation and competition difficulties have made it hard to keep stores open, according to The Hill. Consumers just aren't spending as much these days. Another chain that closed restaurants in May, Red Lobster, said that debt and a fiasco with an all-you-can-eat shrimp promotion caused the closure of almost 100 locations.
According to The Hill, the company, in an SEC filing, has said that between 35 and 40 locations could be closing, but the number looks far bigger. For instance, 60 locations in California are tagged for closures, and 89 others in the U.S. have closure notices on their individual websites.
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