News Summary
Big Lots is reopening 78 locations in nine states, including a new store in Bowling Green, Kentucky. This marks the fourth reopening phase following the company’s Chapter 11 bankruptcy. With the latest additions, a total of 219 stores are now operational. Big Lots aims to revitalize its brand and enhance customer experience as it navigates significant financial challenges and changing consumer behaviors.
Bowling Green, Kentucky – Big Lots is reopening 78 stores across nine states, including a new location in Bowling Green, Kentucky. The Scottsville Road store will be the only one reopening in Kentucky on Thursday, June 5. This initiative marks the fourth phase of store openings after the company’s recent restructuring following a Chapter 11 bankruptcy filing.
The company has been gradually resuming operations over the past few months. In the previous month, several other locations in Kentucky were reestablished, including stores in Campbellsville, Hazard, London, Middlesboro, and Somerset. The second wave of reopening also included stores in Danville, Elizabethtown, Glasgow, and Richmond, with an earlier reopening of the Mount Sterling store occurring in April. With the latest reopening plan, the total number of Big Lots stores that have resumed operations has reached 219.
This reopening effort is part of a larger strategy to revitalize the company after facing significant financial challenges, including declining sales and changing customer behaviors. Big Lots filed for Chapter 11 bankruptcy in the fall of 2023, citing various factors contributing to its financial distress, particularly shifts in consumer spending, which led to a decline in sales of home and seasonal goods.
In financial terms, Big Lots reported approximately $4.7 billion in operating revenue for 2023. However, forecasts indicate a pressing decline, as net sales fell by over 10%, reaching just $1 billion in early 2024—down from $1.1 billion in the same period for the prior year. These challenges prompted the company to close several locations, including a notable store in Lexington, and initiate closeout sales at other sites in December.
After filing for bankruptcy, Big Lots entered negotiations with Variety Wholesalers, which has resulted in a deal for the acquisition of between 200 and 400 of its stores, as well as some distribution centers. The president and CEO of Variety Wholesalers highlighted the positive feedback from customers and the deep connection with the community as driving factors in the reopening process.
Looking ahead, the successful reopening of these stores has spurred interest from Variety Wholesalers to consider further acquisitions of Big Lots locations, signaling a potential stabilizing phase for the retailer as it strives to regain its footing in the competitive discount retail market.
With its recent restructuring and phased reopening strategy, Big Lots aims to enhance customer experience and rebuild its brand presence following its financial turmoil. The reopening of stores not only benefits the company but also aims to foster community engagement and employment opportunities in the areas served.
The revival of Big Lots is closely monitored by industry analysts and consumers alike as it reflects the broader trends in the retail sector, particularly the challenges faced by discount retailers amid changing consumer behaviors and economic conditions.
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Additional Resources
- Reuters
- Wikipedia: Bowling Green, Kentucky
- The New York Times
- Encyclopedia Britannica: Discount Retailer
- CNBC
Author: STAFF HERE BOWLING GREEN WRITER
The BOWLING GREEN STAFF WRITER represents the experienced team at HEREBowlingGreen.com, your go-to source for actionable local news and information in Bowling Green, Warren County, and beyond. Specializing in "news you can use," we cover essential topics like product reviews for personal and business needs, local business directories, politics, real estate trends, neighborhood insights, and state news affecting the area—with deep expertise drawn from years of dedicated reporting and strong community input, including local press releases and business updates. We deliver top reporting on high-value events such as the National Corvette Homecoming, International Festival, concerts at SKyPAC, and sports events at Beech Bend Park. Our coverage extends to key organizations like the Bowling Green Area Chamber of Commerce and the African American Museum Bowling Green Area, plus leading businesses in automotive, apparel, and healthcare that power the local economy such as General Motors Corvette Assembly Plant, Fruit of the Loom, and Med Center Health. As part of the broader HERE network, including HERELexingtonKY.com and HERELouisville.com, we provide comprehensive, credible insights into Kentucky's dynamic landscape.
