Could Big Lots Be the Latest Retailer to Announce Michigan Store Closures?

It's no secret that many big-name retailers have been forced to close stores due to changing market conditions and increased competition from online shopping. While the pandemic and inflation are often cited as reasons, it's online shopping that's the real threat to traditional brick-and-mortar stores.

Some companies, including Rite Aid, have announced closures in Michigan as part of a bankruptcy reorganization plan. That one hit a little too close to home for me, as my local store in Grand Blanc was among those slated for closure. Not only was it a convenient stop on my way home from work, but it was also my pharmacy.

It seems another major retailer with many locations in Michigan, including Genesee County, could face the same fate. Late last year, we reported that Big Lots was closing dozens of stores throughout the country due to the company's struggles.

According to Best Life, more closures from the bargain retailer were also expected this year. Storefronts in New York, North Carolina, and Illinois were projected to close indefinitely in 2024.

In April, an annual report showed a 13.6% drop in overall sales. As you can see, things aren't looking good for Big Lots.

With 40-plus stores in Michigan, there's a good chance we could see closures in the coming months. Usually, it's the underperforming stores that will go first.

Home News Now reported that after opening 56 stores in fiscal 2022, the chain added just 15 last year, while closing 48 locations. That’s a net drop of 33 stores.

As of right now, there are no store closures planned for Michigan, as far as we know.