Evergreen moments in Delray Beach, Florida
Evergreen moments in Delray Beach, Florida
Last month the ubiquitous discount retailer Big Lots announced it would close as many as 40 stores by the end of 2024 as its financials worsen in a tough consumer market. Now that number could be closer to 315.
Initially, there were 11 Florida stores getting shuttered, according to Big Lots’ website. But in a July 31 filing with the Securities and Exchange Commission, the big box discount chain allowed for many more store closings, along with updating its loan terms to lower its credit limit and raise the interest rate.
Now the website shows 26 of the chain’s 106 Florida locations will be shutting down, with sales promotions up to 20% already under way.
The Columbus Dispatch — a part of the USA TODAY Network — reported that the Columbus-based retailer had listed 293 locations as “closing soon” as of the beginning of August. The company’s store locator currently lists 1,389 locations nationwide. That’s down already from the 1,425 the chain listed in the first quarter of 2023.
“In 2024, the U.S. economy has continued to face macroeconomic challenges including elevated inflation, which has adversely impacted the buying power of our customers,” Big Lots said in the filing. As of June, the U.S. inflaiton rate was 3.0%, down from 3.3% in May.
This comes during a year when Walgreens closed locations, Walmart closed all 51 of its health centers, restaurant chains like Red Lobster, Tijuana Flats, TGI Fridays and Hooters announced closings and retail outlets such as rue21, Express, Best Buy, Macy’s, Dollar Tree and Family Dollar all announced bankruptcies or store closings.
Which Palm Beach County Big Lots stores will be closing?
According to Big Lots’ website, 26 Florida stores will be closing. The three locations closing in Palm Beach County are in Boca Raton, Boynton Beach and Royal Palm Beach.
Why is Big Lots closing stores?
According to the financial disclosure, Big Lots’ sales dropped 10.2% between the first quarters of 2023 and 2024, equating to a loss of about $114.5 million.
The company also said it had “substantial doubt” about the ability of the company to continue operating, feeding into speculation about a potential bankruptcy filing.
How many Big Lots are there in Palm Beach County?
There are 106 Big Lots stores in Florida, with five locations being in Palm Beach County.
With the three locations closing in Boca Raton, Boynton Beach and Royal Palm Beach, there will only be two Big Lots stores left in Palm Beach County.
- Delray Beach: 4801 Linton Blvd Ste 15a Delray Beach, Florida 33445
- Greenacres: 4515 Lake Worth Rd Greenacres, Florida 33463
Florida cities with the most Big Lots stores:
- Orlando: 5
- Miami: 4
- St. Petersburg: 3
- Ocala: 3
- Tampa: 3
- Sarasota: 2
- Lakeland: 2
- Pensacola: 2
- Fort Myers: 3
- Jacksonville: 3
- Bradenton: 2
- Clearwater: 2
States with more than 100 Big Lots include:
- Texas: 116
- California: 109
- Florida: 106
- Ohio: 102
Ashley Ferrer is a journalist at The Palm Beach Post, part of the USA TODAY Florida Network. Help support our journalism. Subscribe today.
Barbara Terrio is a seasoned business journalist, delving into the world of finance, startups, and entrepreneurship. With a knack for demystifying complex economic trends, she helps readers navigate the business landscape. Outside of her reporting, Barbara is an advocate for financial literacy and enjoys mentoring aspiring entrepreneurs.
