Big Lots Could Close Remaining Iowa Locations due to Bankruptcy

It was a bad day for another big retail company in the U.S. as Big Lots announced they were filing for bankruptcy.

KCRG reports that Big Lots announced on Monday that they are filing for Chapter 11 bankruptcy. The retailer, like many others before it, blamed high inflation and interest rates that caused core customers to cut back on discretionary spending as reasons for the announcement. As part of the bankruptcy filing, Nexus Capital Management will take over nearly all remaining Big Lots stores and business operations according to KCRG.

More store closings could be coming soon. CNN reports that Big Lots is in the process of closing nearly 300 of its 1400 stores across the U.S. While no additional closures were announced on Monday, Big Lots warned that it would need to close certain locations to ensure "our business operates efficiently."

Big Lots stated that during the bankruptcy proceedings, they will continue to serve customers at current store locations and online at BigLots.com. You can still find Big Lots locations in Iowa at;

• 4365 Merle Hay Road in Des Moines
• 3652 N. Brady Street in Davenport
• 3320 E. Agency Street in Burlington

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