'Devastating.' Struggling Discount Store Closing All AZ Locations

With yet another sign of the struggling economy, one of the largest discount retailers in Arizona is giving up the fight.

For years, Big Lots has been a great place to find deals, including unusual or one-of-a-kind deals. However, after filing for Chapter 11 bankruptcy protection, they've finally conceded that their last-ditch efforts to save the struggling retailer haven't worked, and they're throwing in the towel.

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READ: Will Big Lots Close Stores in Arizona?

Big Lots announced that it will close all stores nationwide, including the stores in Arizona. The company filed for Chapter 11 bankruptcy protection in September. In spite of efforts to find a buyer, it has decided to go out of business.

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Why is Big Lots Going Out of Business?

So, why is this happening? Like many retailers in the post-pandemic era, Big Lots has struggled with declining sales, rising operational costs, and fierce competition from e-commerce giants like Amazon and Walmart.

The pandemic got many people hooked on the convenience of online shopping, and many brick-and-mortar stores have not returned to their former glory.

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You may have already seen store employees on street corners near the stores advertising the store-wide going-out-of-business sales are already in effect. They hope to complete any potential sale by early January, but until then, it's all about liquidation.

Five Big Lots stores in Arizona, including the one in Sierra Vista, are set to close. This is a sad day for bargain hunters in our state.

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Big Lots isn't the only outfit feeling the pinch, though. CVS Pharmacy stores are struggling, and Party City announced plans to close all stores in Arizona.

It's tough seeing these stores go, but it's a reminder of how quickly both the economy and the retail landscape is changing.

Sources: Big Lots | Black Star News | Fast Company | Washington Post | AZ Central

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