A Major Retailer is Closing Over 300 Stores: Is Iowa on the List?

Mere days after its primary distribution center in Columbus, OH was revealed to be closing, laying off hundreds in the process, a major retailer has filed Chapter 11 bankruptcy, with the closure of several-hundred stores imminent.

That retailer is Big Lots, whose Ohio distribution center closed last week. That resulted in 379 people losing their jobs in the Columbus region, but the pain is about to be expanded country-wide. Per The Des Moines Register, Big Lots will be closing over 300 stores according to the company's recent filings in bankruptcy court.

To catch you up: back in July, Big Lots announced it was planning to shutter 35-40 stores around the United States. Since then, the company has initiated Chapter 11 proceedings in the U.S. Bankruptcy Court for the District of Delaware, per USA Today.

Furthermore, in an August Exchange Commission filing, Big Lots revealed their plans to close 315 locations. The company operates over 1,300 stores across America.

Are Any of the Locations Closing in Iowa?:

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At this time, it is unknown which particular Big Lots locations will be closing. Many stores were identified as closing on the company's website, per The Des Moines Register, and approximately 100 were listed in a court filing saying Big Lots had intentions to reject its leases on those properties, which would obviously render them dormant.

Presently, there are three active Big Lots locations in the state of Iowa:

• Burlington: 3320 Agency State
• Davenport: 3562 N. Brady State
• Des Moines: 4365 Merle Hay Road

What is the Future of Big Lots?:

President and CEO of Big Lots Bruce Thorn stated that the bankruptcy filings were a move to secure the company's future, in a news release:

Though the majority of our store locations are profitable, we intend to move forward with a more focused footprint to ensure that we operate efficiently and are best positioned to serve our customers. To accomplish this, we intend to use the tools afforded by this process to continue optimizing our store fleet in an orderly manner. - Big Lots President and CEO Bruce Thorn, per The Des Moines Register

These imminent closures come after a sales agreement with Nexus Capital Management LP. That company has agreed to take over all of Big Lots' assets and business operations, and they're obviously looking at downsizing the company's brick-and-mortar footprint in the immediate future.

Read more about Big Lots filing for Chapter 11 bankruptcy and reportedly closing hundreds of stores on The Des Moines Register's website.