TRAVERSE CITY, Mich. (Michigan News Source) – Michigan shoppers will soon find one fewer place to snag a deal, if Big Lots doesn’t find a new buyer for its company soon. According to media reports, Big Lots is on the road to close all its stores around the country amid bankruptcy proceedings.

A go-to destination for bargain lovers, the retailer has announced going-out-of-business sales all across the country in what’s shaping up to be a blow to communities reliant on its affordable options.

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The chain has cited many things for their poor sales performance: rising costs, high inflation, rising interest rates, and increased competition were all key factors in its downfall. Big Lots joins a growing list of retailers unable to stay afloat in the challenging economic climate of the Biden-Harris administration.

“Closing time” for Michigan bargain hunters?

Big Lots may be nearing the end of the checkout line nationwide in a permanent fashion, including in Michigan, because their planned sale to Nexus Capital fell through. Struggling under mounting financial pressure, the retailer now faces an uncertain future unless a new buyer steps in.

That would mean that 32 Big Lots stores would shutter in the state, part of the 963 stores across the United States, by the beginning of January.

The company’s press release doesn’t specifically say that they are closing all of their stores but the statement says they are starting the process of having “going out of business sales” – and their website says, “All Stores Closing” with offers of up to 50% off on store merchandise. Liquidation sales are already underway to protect the “value” of the company according to the company’s statement.

Traverse City bargains.

In Traverse City, the weekend before Christmas saw a frenzy of shoppers snapping up food, gifts, and decorations all around town, with northern Michigan residents eager to secure last-minute holiday items. By Sunday, the Traverse City Big Lots was abuzz with a lot of that activity, its shelves rapidly emptying as customers hunted for deals. Despite the uncertainty surrounding the store’s future and the looming possibility of unemployment, employees maintained a cheerful holiday spirit, warmly greeting shoppers and ringing up purchases with smiles.

Big Lots faces uncertain future.