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biglots.com

November 18, 2025

Here’s a detailed look at Big Lots Stores, Inc. (via its website biglots.com) — what it is, how it got here, what went wrong, and what to know if you’re considering shopping there (or following its story).

Company overview

Big Lots was founded in 1967 (originally as Consolidated Stores Corporation) by Sol A. Shenk. (Zippia) Headquartered in Columbus, Ohio, the company grew into a discount retail chain specialising in close-outs, overstocked merchandise, and off-price goods. (GlobalData)

Big Lots operated under its own brand (“Big Lots”) and via its website (biglots.com) offers a broad range of categories: furniture, home décor, housewares, toys, seasonal items, consumables/food and beverage, apparel, electronics. (Forbes)

One of its key traits was the “opportunistic buying” model: acquiring excess, discontinued or overstock inventory from manufacturers and selling at marked-down price points. (Encyclopedia)

Historical timeline & key milestones

  • 1967: Company founded. (Zippia)

  • Early 1980s: The close-out store format under “Odd Lots” brand appears. (Wikipedia)

  • 1990s: Big Lots (via Consolidated Stores) acquires other chains (for example MacFrugals/Pic’N’Save) and expands footprint. (Zippia)

  • 2001: Consolidated Stores changes its name to Big Lots, Inc. (Wikipedia)

  • Throughout: The chain built a business based on deep-discounting, close-out items; a differentiator vs typical full-price retailers. (perfaware.com)

Business model: what made it tick

The model hinged on several pillars:

  • Inventory sourcing: By buying overstock, cancelled orders, end-of-season runs from manufacturers, Big Lots could offer brand-name style goods at lower cost. (Encyclopedia)

  • Wide merchandise assortment: Rather than focusing exclusively on one category (e.g., electronics), Big Lots covered furniture, consumables/food, home goods, seasonal items, toys, apparel. This breadth allowed the store to be a kind of one-stop for value shoppers. (Forbes)

  • Discount positioning: The brand message emphasised “save lots” and value, appealing particularly to cost-sensitive consumers. (perfaware.com)

  • Converting existing chains: The company expanded via acquiring other discount/close-out chains and absorbing them. (Zippia)

Recent challenges & current state

Despite its strong beginnings, Big Lots ran into serious difficulties. Key issues:

  • Declining sales: The company reported multiple quarters of falling same-store sales. For example, a drop of about 10.2% in net sales in Q1 2024 vs Q1 2023. (New York Post)

  • Macro pressures: High inflation, higher interest rates, rising costs of logistics and labour all squeezed the business. Big Lots pointed to reduced discretionary spending by its customer base in home and seasonal categories (which comprise a large part of its revenue). (People.com)

  • Balance sheet/leverage: The company had heavy debt and a leveraged structure which reduced its financial flexibility. (Wikipedia)

  • Store closures & bankruptcy: In 2024 the company filed for Chapter 11 bankruptcy. (Reuters) It then reached a deal in December 2024 to transfer up to about 200-400 stores (and up to two distribution centers) to another retailer, Variety Wholesalers, Inc., while other stores closed permanently. (AP News)

  • As of the most recent reporting, the brand is undergoing a transition, with uncertainty about how many stores remain, how many will reopen under the Big Lots name, how many will be converted. (Southern Living)

What this means for customers and online shoppers

If you’re considering shopping on biglots.com or in a store (where one still exists), here are practical takeaways:

  • Value deals may be present: Given the close-out/overstock sourcing, you can often find brand names at discounted prices (especially furniture, home décor, seasonal items).

  • Selection may be uneven: Because inventory depends on overstock/cancellation runs, what’s available can vary widely by location and timing. The online site may differ in selection vs physical stores.

  • Risk around store viability: Given the ongoing restructuring, store hours, availability of certain services (e.g., returns, local pickup) may vary or change.

  • Online vs store: Shopping online gives access to broader selection, but given the company’s financial state, pay careful attention to shipping costs, return policies, product availability (especially for large items like furniture).

  • Timing can matter: Since the business model is partly driven by opportunistic buys, timing (seasonal close-outs, liquidation sales, clearance events) can make a difference in the deal you get.

  • Check local store status: Before planning a visit, it’s advisable to verify whether the specific store location is still open or operating normally, given the broader store-closure activity.

Key takeaways

  • Big Lots began as a close-out retailer in 1967, built its name by buying excess/discontinued merchandise and selling at deep discounts.

  • It offered a wide merchandise range (furniture, home goods, consumables, toys, apparel) to appeal to value-oriented customers.

  • Its business model had strengths (inventory flexibility, discount positioning) but also vulnerabilities (dependence on discretionary spending, pressure from macroeconomic factors).

  • In recent years the company suffered declining sales, financial stress, and filed for bankruptcy in 2024. As of late 2024 the company entered an asset-sale deal transferring many stores to another operator and closing many others.

  • For shoppers, there remain opportunities to find value, particularly online, but also some risks: store availability may be limited, product mix may be inconsistent, and policy/operations may vary during restructuring.

Frequently Asked Questions

Q: Is Big Lots still operating?
A: Yes, but with significant caveats. Big Lots filed for bankruptcy in 2024 and is restructuring. Some store locations are being transferred to another operator while others are closing. The website (biglots.com) continues to operate. (AP News)

Q: What kinds of products does Big Lots sell online?
A: A broad assortment: furniture, home décor, housewares, toys, seasonal items, food/consumables, apparel, electronics among others. (GlobalData)

Q: How does Big Lots’ pricing compare to other retailers?
A: Because of its close-out and overstock sourcing model, many items are priced below typical full-price retailers. But availability and selection will vary. The value proposition depends on finding the right product at the right time.

Q: Are there risks for online shoppers (e.g., shipping, returns)?
A: Yes. Given the company’s restructuring and store footprint reduction, some services (store pick-up, returns at store, large-item shipping) may be less stable or vary by region. It’s wise to verify shipping/return terms on the specific item you buy.

Q: Will Big Lots reopen stores or expand again?
A: It’s uncertain. The deal announced December 2024 allows up to 200-400 stores to continue under the Big Lots name via Variety Wholesalers. So the brand may persist in some regions. But many stores will remain closed permanently. (AP News)