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More Big Lots locations on Long Island are closing.
In an email to customers on Friday, the retailer announced it would be shutting down its Bay Shore and Hicksville stores. “Your local Big Lots store will soon be closing. Take advantage of huge discounts, with up to 20% off storewide,” the notice read.
The exact closing dates for these locations have not yet been announced.
This news follows the Ohio-based company’s bankruptcy filing less than a month ago, in which they announced the closure of 340 stores nationwide. Initially, 10 New York stores, including those in Centereach and Carle Place, were slated to close.
Despite the bankruptcy and widespread closures, Big Lots remains optimistic.
“We are focused on delivering on our promise to be the leader in extreme value by helping customers ‘Live BIG and Save LOTS,’” said Bruce Thorn, president and chief executive officer of Big Lots.
“With the court relief we have received today and the support of our lenders, we look forward to moving through this process and emerging as a stronger, more-efficient company, well-positioned to serve our customers,” he added.
As of now, the following Big Lots stores on Long Island were not slated for closure:
Holbrook
West Babylon
Copiague
National picture
According to Bloomberg’s sources, Big Lots plans to sell its chain of stores through a court-supervised process. The company is expected to continue operations under Chapter 11 protection while seeking a stalking horse bid, which could potentially be outbid if better offers emerge.
Big Lots, which employs over 30,000 workers nationwide, has struggled with declining sales over the past few quarters. It has put significant pressure on the company’s balance sheet, likely leading to the decision to file for bankruptcy.
Company history
Founded in 1967 by entrepreneur Sol Shenk, Big Lots began as Consolidated International before rebranding as Odd Lots and eventually settling on its current name. The company has been a familiar presence in many communities, offering discounted home goods and other retail items.
Broader retail landscape
Big Lots joins a seemingly growing list of retail chains facing hardships in recent years. On Long Island, there have been closures of outlets belonging to other well-known brands, such as Red Lobster, Carrabba’s, Stop & Shop and Bob’s Stores.
This is a developing story. Please check back with Greater Long Island for updates on how the Big Lots bankruptcy filing may affect its Long Island stores.
