Big Lots is closing these 3 locations in Illinois

We now know which locations Big Lots will close in Illinois.

Ohio-based discount chain Big Lots announced on July 10 that the company plans to close up to 40 stores nationwide this year due to financial challenges the brand is facing in the post-COVID market.

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According to Big Lots’ website, three Chicago-area locations will close by the end of this year, but they are already offering discounts of up to 20% on items.

Below you can see which locations are closing:

Lockport at 340 Summit Drive
Niles at 7233 W. Dempster St.
Crest Hill at 1608 N. Larkin Ave.

The remaining 26 Big Lots locations remain open for now, including both Springfield locations and the location in Peoria in central Illinois and Machesney Park in the northern part of the state.

The company reported 1,392 operating stores at the start of 2024, down from 1,425 in the first quarter of 2023. In its U.S. Securities and Exchange Commission filing, the retailer said it plans to close 35 to 40 stores and open three more by the end of 2024.

“In 2024, the U.S. economy continues to face macroeconomic challenges, including high inflation, which has negatively impacted our customers’ purchasing power,” Big Lots’ filing said.

According to the filing, revenue in the first quarter of this year fell by more than 10% compared to 2023 and long-term debt increased by $72.2 million, increasing the total from $501.6 million in the first quarter of 2023 to $573.8 million in the first quarter of this year.

It is unclear whether Big Lots will file for bankruptcy soon.

Claire Grant covers business, growth and development and other news topics for The State Journal-Register. She can be reached at [email protected]; and on X (formerly Twitter): @Claire_Granted