A popular retail chain now makes painful closures in Maryland after the company announced that it would shutter up to 40 locations.
Big Lots is closing three Maryland stores, including one in Baltimore County.
The store in Reisterstown, at the Reisterstown Shopping Center near Cherry Hill Road, will close soon, according to the company’s website.
Other Baltimore-area Big Lots stores are not affected, according to the site.
A store in Laurel and a store in southern Maryland are also closing.
Big Lots said earlier this month it may have to close up to 40 locations nationwide by the end of the year, blaming declining sales.
Which Big Lots stores are closing in Maryland?
Below is a list of the three Big Lots stores closing in Maryland soon:
- 3331 Corridor Marketplace, Laurel
- 21800 N Shangri La Dr. Unit 20, Lexington Park
- 11989 Reisterstown Rd, Reisterstown
The company has offered shoppers at its locations up to 20% off to help soften the landing.
However, the news has of course upset loyal customers.
“This sucks,” lamented one woman on Facebook.
“This is sad,” agreed another.
“I’m disappointed by this. I find great stuff there, especially seasonal and the staff is friendly and helpful,” said one shopper.
“I was at the store yesterday. Not everything is 20% off,” pointed out another.
“Food isn’t on sale. Many things are only 5 and 10% off. Sad to see Big Lots go.”
Their shutdown comes days after Big Lots admitted that 40 stores face the chop by the end of 2024.
These include several in Connecticut: Pleasant Valley Road in Manchester; Turnpike Square in Milford; and Boston Post Road in Waterford, reported NBC.
The broadcaster said a default on the retailer’s 2022 loan would raise “substantial doubt” about its ability to stay afloat.
The retailer blamed the branches’ pending closure on plummeting sales.
Its recent regulatory filing with the U.S. Securities and Exchange Commission contained more details.
In it, Big Lots alluded to “244 underperforming store locations” during the first quarter of 2024.
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Also Read: An Unexpected Retailer Is Now Closing All Stores in Illinois
Other Economy News Today
A beloved grocery chain now confirms unexpected closures across the Northeast taking place by the end of the year.
Grocery chain Stop & Shop has announced that a total of 32 underperforming locations will shutter in the U.S.
The company said the select stores across the Northeast will be closed before the end of the year.
Stores in New Jersey, Massachusetts, New York, Connecticut, and Rhode Island will close by November 2.
In May, the company announced the coming store closures.
“Stop & Shop has evaluated its overall store portfolio and made the difficult decision to close underperforming stores to create a healthy base for the future growth of our brand,” company president Gordon Reid said, per a July 12 press release.
The company’s president added that the closures were essential “to create a healthy base for the future growth of our brand.”
Fortunately, employees will be offered other positions within the company, according to a press release.
The grocery outlet first opened in 2014 and currently has around 400 stores and 60,000 employees, per Fox affiliate KRLD.
Stop & Shop is owned by Ahold Delhaize which also owns Food Lion, Giant Food, and Hannaford.
Which grocery stores are closing?
In New Jersey, 10 locations will close, while only seven will close in New York.
Rhode Island will see two closures and Massachusetts, the home of the first location, will be closing eight.
Five stores will also be closing in Connecticut.
As other chains such as Walmart and Amazon join the grocery business, it has pushed traditional grocery stores out of view, reports The-Sun.
Stop & Shop hopes the closure of underperforming stores will create “future growth” for the company.
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