The restaurant industry around the country has been facing closings all spring and summer in 2024.

A Red Lobster location in Waterloo abruptly closed this past May. Cracker Barrel, Applebee's, TGI Fridays, and Denny's have all faced closures in 2024. Now we're learning of a popular discount retail chain that will be closing anywhere from 35-40 stores around the country.

There are 3 Big Lots locations in Iowa. You can find them in Des Moines, Davenport, and Burlington.  Could one, two, or possibly all 3 of these locations be closed in the coming weeks? It's doubtful all 3 locations will be closed but it wouldn't be that surprising if at least 1 location was shut down.

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Big Lots Closures

Big Lots is known for selling all kinds of different products. Whether it's food, furniture, seasonal items, electronics and accessories, home decor, or toys, you can find tons of different products at Big Lot stores. Sadly, the amount of Big Lots around the country will be getting smaller.

According to CBS News, Big Lots is closing around 40 stores, and the future doesn't look great for the business as a whole. Americans around the country have begun to tighten up on spending as the country continues to deal with rising costs. Inflation has led to Americans spending less, and the U.S. saw economic growth slow down in the first 3 months of 2024.

Big Lots suffered a net loss of $205 million in the first quarter and has suffered a dramatic loss in consumers purchasing "high ticket discretionary items." One of these high-ticket items Big Lots highlighted is indoor and/or outdoor furniture.

In today's America, Americans are focusing on buying essential items before many luxury items or non-essentials.

What's the point of buying a new table if you can't put any food on it to feed your family..?

Will The Iowa Locations Be Closed?

As of today (July 10), the stores that will be closed have not been made aware to the public. Big Lots currently operates more than 1,300 stores in 48 states. By the end of 2024, Big Lots is hoping to reach more affordable food products as well as make it easier for customers to find great deals.

With the way 2024 is going...tune in next week to find out what other stores around the country will be closing locations in the upcoming months/years.

Now is the perfect reminder that if there is a local store or restaurant that you love, this is an incredibly important time to shop and spend at those locations when you can. While these massive chains may be able to close locations around the country, our favorite local stores and restaurants do not have that luxury.