Big Lots had a grand opening for its store at 2806 Frontage Road, Warsaw, Dec. 10, 2022.
Friday, shoppers began receiving a promotion in their email that the Warsaw location “will soon be closing” and “deep discounts” were being offered and “everything must be sold now.”
In a storefront window Saturday, a big sign also said the store was closing and there were discounts of up to 20% off. Employees inside the store referred any questions to corporate in Columbus, Ohio.
The Big Lots website lists the Warsaw location as closing.
On July 23, The Hill reported dozens of Big Lots stores were preparing to close about a month after the company warned in a U.S. Securities & Exchange Commission filing that between 35 and 40 locations could shutter this year. Company leaders pointed to inflation and difficulties in competing.
In its 2024 quarter 1 report, Big Lots reported a net loss of $205 million, or $6.99 per share, for the quarter ended May 4. This result includes a net after-tax loss of $72.7 million, or $2.48 per diluted share.
Since July 23, the number of Big Lots stores announced to be closing continued to increase, from 35-40 to 140 by the end of July and around 300 as of Friday, according to various news reports.
The Columbus Dispatch reported the company operates 1,389 locations according to its website as of Friday, which is down from 1,425 from the start of 2023. The closures listed on the website account for more than 20% of Big Lots across the country.
Of course, this isn’t the first time a Big Lots store closed in Warsaw. There previously was a Big Lots on West Lake Street, which also shuttered its doors after a number of years.
Big Lots’ current Warsaw location is in the MarketPlace of Warsaw, which is owned by and being developed by Sullivan Wickley, a Georgia-based real estate agency. Last month, Sullivan Wickley announced bealls - which sells apparel, footwear, accessories, housewares and more - would be coming to the shopping center this fall, inside the former Carson’s location.
The Marketplace was almost entirely closed a number of years ago until Sullivan Wickley, working with the city of Warsaw, bought the building and worked to add new tenants like Gabe’s, Planet Fitness and Big Lots.
According to the history of Big Lots on the corporation’s website, Sol Shenk founded the company in 1967 that is now Big Lots. Shenk loved making crazy closeout deals, particularly on auto parts and all kinds of vehicles. In 1970 the company began operating as Consolidated International. Consolidated launched the Odd Lots/Big Lots closeout chain in 1982. Over the years the chain grew to include stores doing business as Big Lots, Odd Lots, Mac Frugal’s Bargains * Closeouts and Pic ‘N’ Save.