Every day someone is writing about another retail chain, restaurant, pharmacy chain, or banking institution going out of business. Whether it's the spike in inflation over the years, the major shift to online shopping, or other financial factors, it's clear that many businesses are hurting right now and Massachusetts is feeling the effects.

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Businesses like Walgreens, CVS, Bank of America, Christmas Tree Shops, Bed Bath & Beyond, etc. have all closed some Massachusetts locations or have completely gone under. The glory days of brick-and-mortar stores seem to be in the rearview mirror, at least for now.

A Discount Home Goods Retailer is Planning on Closing More Stores This Year 

Another business that plans on closing 35 to 40 stores this year and may even face permanent closure is Big Lots. It was reported by a few media outlets including the New York Post, that the discount home goods retailer is facing financial struggles. The company made the following statement regarding its struggles to keep customers returning to its stores.

Elevated inflation has put a damper on customers’ buying power – resulting in big losses for the company and “substantial doubt” about its ability to continue operations.

It's probably not surprising that Big Lots has to clean house considering the retailer closed 52 stores in 2023 and has been steadily losing money since 2022.

Big Lots Has 23 Locations in Massachusetts Will any of Those Stores be Closing This Year? 

While the article didn't indicate exactly which Big Lots locations will be shutting down this year, the retailer has 23 locations throughout Massachusetts including Ashland, Attleboro, Auburn, Billerica, Danvers, Dennis Port, Fairhaven, Fitchburg, Franklin, Gardner, Lynn, Methuen, Milford, Northampton, Pittsfield, Plymouth, Raynham, Revere, Seekonk, Springfield, Swansea, Webster and West Springfield. When it's revealed which stores are closing and if any of these Massachusetts locations are on the chopping block, we'll let you know.

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