Discount Retailer Big Lots to Close More Than 50 Stores in California

Discount retail chain Big Lots is shuttering more than 50 stores across California following a drop in customer spending and economic challenges.
The store locator function of the chain’s website shows 54 stores that will close across the state, but it’s not clear exactly when they will close.
Big Lots said in a June filing with the U.S. Securities and Exchange Commission (SEC) that it plans to open three stores nationwide this year and close 35 to 40.
Prior to the announcement, Big Lots had 1,392 stores throughout the United States.
In its SEC filing, the Columbus, Ohio-headquartered company said the planned closures follow “macroeconomic challenges” within the U.S. economy, such as inflation, that had “adversely impacted” the buying power of its customers….