Big Lots is closing up to 40 stores across America. Will Indiana locations be impacted?

Cheryl V. Jackson Mary Walrath-Holdridge

Indianapolis Star

UPDATE:Two stores in Indiana are listed as closing on the Big Lots website.

Discount retailer Big Lots expects to close up to 40 stores this year as it battles with worsening financials and a tough consumer market.

According to a filing to the U.S. Securities and Exchange Commission, the retailer plans to close 35 to 40 stores this year and open three.

“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 filing from Big Lots said.

Why is Big Lots closing stores?

The retailer, like many others, has grappled with declining sales amid rising prices and a downturn in consumer spending. According to the financial disclosure, sales dropped 10.2% between the first quarters of 2023 and 2024, equating to a loss of about $114.5 million.

The company also took on an additional $72.2 million of debt, bringing the total from $501.6 million in the first quarter of 2023 to $573.8 million for the first quarter of this year. The company also said it had "substantial doubt" about its ability to continue operations, leading to speculation of a potential bankruptcy filing.

Will Big Lots close stores in Indiana?

The document did not disclose the locations at which stores would be closing.

Indiana stores include:

4358 S. Scatterfield Rd., Anderson
10321 East U.S. Route 36, Avon
3620 W. 3rd St., Bloomington
706 E. Lewis & Clark Parkway, Clarksville
3075 E. 25th St., Columbus
1424 Darlington Ave., Crawfordsville
1612 N. State St., Greenfield
3958 Illinois Rd., Fort Wayne
6128 Stellhorn Rd., Fort Wayne
1538 N. Morton St., Franklin
2080 N. Jefferson St., Huntington
8401 Michigan Rd., Indianapolis
6225 Allisonville Rd., Indianapolis
5520 Madison Ave., Indianapolis
1650 E. County Line Rd., Indianapolis
10235 E. Washington St., Indianapolis
2136 E. Markland Ave., Kokomo
2525 E. Market St, Logansport
1345 Clifty Dr., Madison
1535 S. Western Ave., Marion
1795 W. Mcgalliard Rd., Muncie
440 New Albany Plaza New Albany
918 W. Lincoln Hwy., New Haven
1930 E. Connor St., Noblesville
2000 E. Tipton St., Seymour
1840 E. Michigan Rd., Shelbyville
2806 Frontage Rd., Warsaw

Contact IndyStar reporter Cheryl V. Jackson at [email protected] or 317-444-6264. Follow her on X.com:@cherylvjackson.