Business & Tech
Big Lots Downsizing To Impact Pittsburgh
The Big Lots chain plans to close hundreds of stores nationwide. Find out here how that move will impact Pittsburgh.
PITTSBURGH, PA — The Big Lots location on Gracy Center Way in Coraopolis will soon be closing, according to the store's website. The closure comes amid increasing concerns that the retailer soon will have to declare bankruptcy.
The chain's website indicated on Friday as many as 293 of its 1,392 locations soon will be closing, according to a report in The Columbus Dispatch. That's many more than the 35 to 40 stores the Columbus-based chain recently indicated it planned to close.
Big Lots last month retailer warned in a regulatory filing that it has "substantial doubts" it can continue as a functioning business.
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In a recent filing with the federal Securities and Exchange Commission, the discount retailer also stated the Columbus, Ohio-based company also stated that there is a "significant likelihood" that it won't be able to meet the terms of a credit agreement. Big Lots last month reported a net loss of $205 million for the first quarter of fiscal 2024.
The Coraopolis store is one of seven locations that will be closing in Pennsylvania, according to the Dispatch report.
Find out what's happening in Pittsburghfor free with the latest updates from Patch.
The Big Lots website currently lists 73 locations in Pennsylvania:
- Aliquippa
- Allentown
- Altoona
- Aston
- Belle Vernon
- Bethlehem
- Bloomsburg
- Boyertown
- Bradford
- Bridgeville
- Burnham
- Butler
- Camp Hill
- Chambersburg
- Clearfield
- Cleona
- Clifton Heights
- Coraopolis
- Du Bois
- Dunmore
- East Stroudsburg
- Ebensburg
- Ephrata
- Erie
- Exton
- Eynon
- Fairless Hills
- Frackville
- Franklin
- Greensburg
- Hanover
- Harrisburg
- Hermitage
- Hummelstown
- Indiana
- Johnstown
- Kennett Square
- Kittanning
- Lancaster
- Lansdale
- Latrobe
- Leechburg
- Lehighton
- Lewisburg
- Luzerne
- Meadville
- Monroeville
- Mount Pleasant
- Muncy
- Natrona Heights
- New Castle
- Norristown
- North Versailles
- Philadelphia (2)
- Phoenixville
- Pittsburgh (2)
- Reading
- Rochester
- Shippensburg
- Souderton
- State College
- Trexlertown
- Uniontown
- Washington
- Waynesburg
- West Hazleton
- West Mifflin
- Whitehall
- Wilkes Barre
- York (2)
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.
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