Big Lots to close 4 stores in Michigan: List of locations affected

[Pelican Press 0]

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Big Lots to close 4 stores in Michigan: List of locations affected

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plans to close 35 to 40 stores this year, including several in Michigan.

The discount realtor headquartered in Columbus, Ohio, has

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as of May 4, according to a

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in June where the company noted the plan to close stores and open three others.

Forty-six Big Lots stores are in Michigan with four listed as closing on the company’s website with banners on the webpages for each store noting the closing.

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The exterior of Big Lots with its closing sign as seen, Tuesday, July 23, 2024, in Sheboygan, Wis.

Here’s a list of the Big Lots stores closing in Michigan.

Big Lots stores closing in Michigan

In the filing, Big Lots reported net losses in 2022, 2023 and the first quarter of 2024.

“Due to ongoing negative macroeconomic factors and their uncertain impacts on the Company’s business, results of operations, and cash flows, the Company expects to experience further operating losses and expects to experience difficulty remaining in compliance with such covenants,” the company said in the filing.

The company said it is implementing plans to reduce costs, improve sales and enhance its financial flexibility and liquidity.

“In 2024, the U.S. economy has continued to face macroeconomic challenges including elevated inflation, which has adversely impacted the buying power of our customers,” the company said.

The company also said it had “substantial doubt” about the ability of the company to continue operation, leading to speculation of a potential bankruptcy filing,

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.

This article originally appeared on Detroit Free Press:

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