Big Lots In Cherry Hill To Permanently Close

CHERRY HILL, NJ — Big Lots will permanently close its Cherry Hill store, according to recent court filings.

The retailer, which declared bankruptcy last month, plans to close hundreds of locations. The Cherry Hill store will be one of them, according to a Friday court filing that announced dozens of upcoming closures.

It wasn't immediately clear when the store will close or how many jobs it might impact. Patch contacted the company for more information but didn't immediately receive a response.

Currently, 496 Big Lots stores are slated to close.

After recently expressing doubts about its chances for long-term survival, Big Lots declared Chapter 11 bankruptcy on Sept. 9. The move came a month after the company, which sells discounted furniture and home goods, closed about 300 locations nationwide.

Big Lots had 1,389 stores before the closures, but roughly 35% are now shutting down, according to Columbia Business First. The company said about 70 percent of its stores are profitable, Business First reported.

Big Lots pointed to "high inflation and interest rates that are beyond its control." The chain added that "core customers curbed their discretionary spending on the home and seasonal product categories that represent a significant portion of the Company's revenue."

"Though the majority of our store locations are profitable, we intend to move forward with a more focused footprint to ensure that we operate efficiently and are best positioned to serve our customers," Big Lots President and CEO Bruce Thorn said in a Sept. 9 press release. "To accomplish this, we intend to use the tools afforded by this process to continue optimizing our store fleet in an orderly manner."

Big Lots said its stores and online shopping site will continue to operate as usual. The retailer plans to still honor gift cards and store credit cards.

The Cherry Hill store is on 949 Church Rd.