Discount retailer Big Lots is facing financial struggles in 2024, planning to close 35 to 40 stores this year due to declining sales and tough market conditions. The company cited elevated inflation impacting customer buying power as a significant challenge. With a reported drop in sales of 10.2% equating to a loss of $114.5 million, and taking on an additional $72.2 million in debt, Big Lots expressed doubts about its ability to continue operations. Speculation of a potential bankruptcy filing arose following the announcement. This move by Big Lots reflects a larger trend in the retail industry, with numerous prominent chains like Red Lobster, Rite Aid, and Bed Bath & Beyond also facing financial hardships and closures. The closure of stores is part of a broader trend in the industry, with other retailers like Hooters, Walgreens, and Disney Stores also shuttering locations in recent years.