Here We Go Again, Another NJ Retailer Closing Stores

Another major retail outlet with New Jersey stores has announced plans to close as many as 40 stores before the end of 2024.

Big Lots, a discounter that sells everything from snacks to clothing, to furniture at hugely discounted prices is yet another victim of changing consumer preferences.

According to a report on MSN.com, the company has seen significant losses and doesn't expect things to improve anytime soon.

Big Lots has 10 locations throughout New Jersey, including Barnegat, Beverly, Brick, Cape May, Cape May Courthouse, Clifton, Freehold, Lumberton, South Plainfield, and Woodbridge.

The company also operates 1300 stores across 48 states.

It's been a difficult couple of years for retailers.

Many were critically hurt by COVID-19 as stores were unable to open.

Then the economy went south, and people became more selective about where they were spending their discretionary money.

Consumers have begun doing more of their shopping online, and that has hurt traditional brick-and-mortar stores.

Stores that have remained open, have had to deal with the inability to attract quality employees to staff their stores.

Other major retailers closing stores and restaurants include CVS, Rite-Aid, and Walgreens as well as Family Dollar and Walmart and restaurant chains like Red Lobster.

Source:  Big Lots closing dozens of stores, putting survival in question (msn.com)