FANS of a beloved discount store are mourning its demise after the retailer fell on hard times and closed a number of stores.
99CentsOnly rival Big Lots has announced the closure of between 35 and 40 outlets this year in a bid to save its wider operation.
two
The retailer already closed more than 50 stores last year and 13 earlier this year, but continued financial difficulties mean more stores will go.
Big Lots cited “high inflation” as the main reason for its financial problems, along with a “downturn in consumer spending” and several “underperforming stores.”
The company also said in its June report Security Exchange Commission Filing that it expects more operational losses and that there are “substantial doubts” about its future.
Now, as several Big Lots locations offer discounts before closing, loyal shoppers are starting to say goodbye to the stores and praying theirs don’t disappear.
‘TIP OF THE ICEBERG’
“Oh no, I love that place,” a fan he wrote in the comments of a Facebook post.
“I will be devastated if they close the Augusta one,” added another.
“All these little stores are closing. It’s sad.”
Three locations in Connecticut have been marked for closure, although it is not yet known when they will close.
They are located in Manchester, Milford and Waterford.
“This is just the tip of the iceberg for business closures in Connecticut,” said one Facebook user. warned.
“People have to cut spending due to the high cost of living between taxes, public services and groceries.
“More and more restaurants will also be open, it’s very expensive.”
Meanwhile, Maryland will also soon lose three stores, according to ABC News affiliate WMAR-2 News.
A shuttered store in Atascadero, California, is already running sales with up to 20% off many items.
Shoppers who recently visited the store were greeted with a yellow closing sign informing them that the location would be closing soon.
However, they were also reassured that they would be the only large lots in the area to close.
Restaurant Closings in 2024
BOSSes of major restaurant chains have announced a series of restaurant closures. The US Sun has compiled a list of those affected by the network.
- Biscuit Barrel: Stores in Medford, Oregon, Columbia, South Carolina and Sacramento, California, closed.
- Mod Pizza: Bosses dramatically closed 27 stores in April, including some in the state of California.
- Frisch’s Big Boy: Restaurant bosses confirmed the closure of a restaurant in Covington, Kentucky, in April.
- Outback Steakhouse: The chain will close 41 “underperforming” locations this year.
- Two dolars: Four restaurants in Ohio closed in April.
- Pepper: A restaurant in Port Arthur, Texas, has closed permanently, as has another in Irvine, California.
- Friendly: Bosses have confirmed that an establishment in Ronkonkoma, Long Island, will close.
- Pizza Hut: A restaurant in Glen Falls, New York, closed in late March, followed by four in Ohio in June and 15 in Indiana.
- Danny: Two restaurants in Boise and Nampa, Idaho, have closed.
- Carl’s Jr.: The first location in Boise, Idaho, has closed.
- In and out: A location in Oakland closed earlier this year due to crime in the area.
- cheesecake factory: The chain is expected to close a location in Memphis, Tennessee, in July.
- Applebee’s: Announced the closure of between 25 and 35 locations this year.
- Taco John’s: He closed a restaurant in Minnesota and put the building up for sale in May.
- Rubio’s Coastal Grill: Announced the closure of 48 locations in California after filing for bankruptcy.
- Burger King: It closed a California location in June after 30 years.
Despite warnings about its future and fears of bankruptcy, Big Lots also confirmed that it will open three new locations.
Big Lots isn’t the only retailer recalculating its operational footprint amid financial difficulties.
Retailers and restaurants are taking a hit as inflation, rising labor costs and changing consumer habits hurt profits.
The parent company of a popular salad restaurant sparked fears of mass closures over the weekend when it filed for bankruptcy citing Covid and labor costs.
A rival to Taco Bell also announced the closure of a location after five decades in business and Sears will also be left with just 10 locations nationwide after an upcoming closure next month.
This story originally appeared on The-sun.com read the full story
