Big Lots Closing Another San Diego Store Amid Bankruptcy, Sale: Report

SAN DIEGO, CA — Big Lots will close another San Diego area store as part of its ongoing bankruptcy and sale, bringing the total number of shuttered and to-be-closed stores nationwide to 496, according to a report.

The discount retailer plans to shut down an additional 46 stores nationwide as part of its Chapter 11 bankruptcy reorganization. With the new round of closures, California will be left with fewer than 20 stores — down from 109 locations at the start of the year, Columbus Business First reported this week.

The company had 1,389 stores nationwide before it began shuttering stores. Now, some 35% of the chain's locations will close or already have been. It comes after Big Lots' sales dropped to a 15-year low in 2023 and its stock price dropped under $1 last month as it was delisted from the New York Stock Exchange.

Three additional stores are set to close in California, including the National City location at 1410 E. Plaza Blvd. The other two stores are in Lancaster and Yucaipa.

Big Lots in August announced the closure of 74 individual stores in California, including four San Diego area locations in El Cajon, La Mesa, Oceanside and Spring Valley. In September bankruptcy filings, Big Lots said it plans "to continue optimizing our store footprint" during its reorganization process.

Big Lots pointed to "high inflation and interest rates that are beyond its control." The chain added that "core customers curbed their discretionary spending on the home and seasonal product categories that represent a significant portion of the company's revenue."

Big Lots said its stores and online shopping site will continue to operate as usual. The retailer expects to be able to continue to honor gift cards and store credit cards.

After the slated store closures, Big Lots will only have one San Diego area location left in Escondido.

The stores marked for closure have been offering discounts of up to 20-30% off ahead of their shuttering. The discounts have been advertised by people holding signs outside the stores across the state.

Along with the bankruptcy filing, Big Lots has entered into an agreement to be acquired by Nexus Capital Management LP, a Los Angeles-based investment firm.

Founded in 1967, the company operated in its infancy as Consolidated International and operated closeout and discount stores under a variety of names. In 2001, the various store names and company were converted to the single national Big Lots brand.