Big Lots Closing 6 More VA Locations Amid Financial Troubles

VIRGINIA — Big Lots officials have identified six additional Virginia stores designated for closure following a disappointing earnings report for its latest quarter that mentioned a decline in net sales and a possible credit snafu.

In a July 31 filing with the Securities and Exchange Commission obtained by Fast Company, Big Lots said it plans to close as many as 315 locations across 35 states, or more than 22 percent of the company's 1,389 U.S. stores.

The number of projected closings increased significantly from an earlier filing in which Big Lots said it planned to close up to 40 stores this year and open three.

The six latest Virginia stores slated for closure are:

• 590 Branchlands Blvd., Charlottesville
• 2110 Wards Rd., Lynchburg
• 5900 E. Virginia Beach Blvd, Norfolk
• 8533 Midlothian Tpke., North Chesterfield
• 1650 General Booth Blvd., Virginia Beach
• 14603 Telegraph Rd., Woodbridge

In July, the company said it would close the following two stores:

• 736 Warrenton Rd., Fredericksburg
• 7743 Sudley Rd., Manassas

No timetable has been posted for the closures.

Last month, Big Lots announced a net loss of $205 million for the first quarter of fiscal year 2024. In an SEC filing, the company said there is a "significant likelihood" that Big Lots won't be able to meet the terms of a credit agreement.

"We missed our sales goals due largely to a continued pullback in consumer spending by our core customers, particularly in high ticket discretionary items," Big Lots President and CEO Bruce Thorn said in a statement.

For now, other Big Lots stores in Virginia will remain open. The chain has other locations in:

• Chesapeake (2)
• Chester
• Christiansburg
• Culpeper
• Danville
• Fredericksburg
• Front Royal
• Galax
• Gloucester
• Hampton
• Harrisonburg
• Henrico
• Lynchburg
• Madison Heights
• Martinsville
• Newport News
• Norfolk
• North Prince George
• Richlands
• Richmond
• Roanoke (2)
• Salem
• Sterling
• Suffolk
• Vinton
• Virginia Beach
• Waynesboro
• Williamsburg
• Winchester
• Wise
• Yorktown

Big Lots is based in Columbus, Ohio.

Founded in 1967, the company operated in its infancy as Consolidated International and operated closeout and discount stores under a variety of names. In 2001, the various store names and company were converted to the single national Big Lots brand.