Is Big Lots Closing More New Jersey Stores? Yes

Is Big Lots Closing More New Jersey Stores?

Well according to an article from AS USA, Big Lots has an updated list of store closures for around the nation and for us here in the Garden State. "According to their website, there are almost 300 locations that are headed for closing soon, although no exact date has been indicated for when they will cease operations. This number comprises more than 20% of the listed 1,389 branches of the chain across the United States."

Get our free mobile app

The good news for us is that states like California are closing like 60 locations, while here in New Jersey we have one store on the updated list that is closing. The location is in Woodbridge (471 Green Street).

Why is Big Lots downsizing and closing many locations around the nation? The answer is simple: "The company recorded a net loss of more than $200 million for the first quarter of its fiscal year." No surprise, it's money that is causing problems. Reports say the housing market is hurting, and the need for furnishings is down, which means fewer buyers shopping.

What's next for Big Lots? "The company will sell the business to private equity firm Nexus Capital Management for $760 million as part of its bankruptcy filing. Big Lots will continue business operations but is already in the process of store closures in an effort to reduce costs."

When was the last time you visited a Big Lots location? Have you ever shopped at the Woodbridge location? We will have to wait and see what's next and we will keep you posted.

CLICK HERE to read the complete AS USA article.