Discount retailer Big Lots will close 75 stores across the state, with 40 percent of them in Southern California.
The Ohio-based firm will close 315 stores across the U.S., but the Golden State is taking the biggest hit, the Orange County Register reported, citing a regulatory filing detailing new loan terms to its creditors. Two months ago, Big Lots said it would close 150 stores.
Of the 75 Big Lots stores to go dark in California, at least 30 will close in Southern California. When the dust settles, Big lots will operate 34 locations across the state.
The dates for the pending closures were not disclosed.
The retailer cited the U.S. economy and “macroeconomic challenges” such as inflation that have curbed customer spending. First-quarter sales were down nearly 10 percent, according to the firm, with a net loss of $205 million for the period.
Big Lots now counts 1,389 stores across the U.S. The closures come after several retailers cashed in their chips because of declining sales.
Last spring, all 99 Cents Only stores closed. Many of those vacant sites in California are converting to Dollar General after parent company Dollar Tree bought the leases in a bankruptcy sale, according to the Register.
The Big Lots stores to close in Southern California include two each in Anaheim and Chino.
They also include stores in Beaumont, Camarillo, Santa Clarita, Corona, Culver City, El Cajon, Fontana, Gardena, Indio, Inglewood, La Habra, La Mesa, Lompoc, Long Beach, Mission Viejo, Oceanside, Ontario, Rancho Santa Margarita, Redlands, Riverside, San Bernardino, Santa Maria, Santa Paula, Simi Valley, Torrance, Victorville, Whittier and Yucca Valley.
— Dana Bartholomew
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