Big Lots is set to close nearly 1,000 stores, including 100 locations in North Carolina and South Carolina, as it prepares to hold a “going out of business” sale. The decision to shut down follows the company’s acquisition by a private equity firm and comes amid challenging economic conditions, including high inflation and rising interest rates, which have negatively impacted consumer spending on home and seasonal products—key categories for Big Lots.
In North Carolina, 66 stores will be shuttered, while 34 locations in South Carolina will also close their doors unless there are changes in the company’s strategy. Notably, there are currently no Big Lots stores in Charlotte, but customers in the area can take advantage of deals at nearby locations during the liquidation process.
The following North Carolina cities will see store closures: Albemarle, Belmont, Boone, Concord, Gastonia, Hickory, Kannapolis, Lenoir, Lincolnton, Monroe, Mooresville, Morganton, Newton, Salisbury, Shelby, and Statesville. In South Carolina, stores in Lancaster and Rock Hill are also affected.
While the closure of these stores marks a significant change in the retail landscape, it opens the door for other businesses to fill the gap left behind. Moreover, consumers looking for discounted prices on furniture and home decor during the liquidation sales may find some opportunities to benefit from the situation.
This situation reminds us that retail businesses must continually adapt to changing economic conditions and consumer preferences. As Big Lots navigates this transition, it will be crucial for the company to explore new avenues and strategies to meet evolving market demands.