In September of 2024, Big Lots filed for bankruptcy.  Now, the company helping them through the bankruptcy process is working to sell the leases of stores across the country.  If they can sell the lease, the Big Lots in that location will close down with the sale.  Many of these locations for sale are located in Illinois.

Big Lots Selling Leases Of 460 Stores Nationwide

Discount Store Big Lots Files For Bankruptcy
Getty Images
loading...

In a press release from Gordon Brothers, the company says the locations are primarily located in shopping centers across 47 states and range in size from approximately 19,000 to 55,000 square feet.

“This is a fantastic opportunity for expansion-minded retailers to grow their footprint by acquiring well-located stores with long-term, below-market rents,” said Michael Burden, Co-Head of North America Real Estate Services at Gordon Brothers. “These spaces offer a seamless path to enhance their presence and serve new communities, making it an ideal time to capitalize on prime retail real estate.”

15 Illinois Big Lots Leases Were Put Up For Sale

Big Lots Earnings Disapoints Investors, Stock Price Falls
Getty Images
loading...

Big Lots operates 901 stores across the country. During the bankruptcy process, the company had been closing some stores and announced plans to close more than 340 stores.

Before the bankruptcy, Big Lots was the 4th largest home goods retailer in the country.  But with leases for sale that ranking will surely fall.

Illinois had 15 locations with leases for sale.  They include:

  • Alton - 1751 Homer M Adams Pkwy
  • Bourbonnais - 185 S Kennedy Dr
  • Danville - 20 N Gilbert St
  • East Peoria - 2500 E Washington St
  • Franklin Park - 10205 Grand Ave
  • Galesburg - 1280 N Henderson St
  • Mattoon - 204 Charleston Ave E
  • Moline - 4555 16th St
  • Mount Vernon - 3925 Broadway St
  • Peoria - 8901 N Knoxville Ave
  • Peru - 1421 38th St
  • Quincy - 3812 Broadway St
  • Springfield - 2701 Veterans Pkwy
  • Springfield - 3173 S Dirksen Pkwy
  • Wood Dale - 480 Georgetown Sq

The company will try to sell the locations to get out of the leases free and clear.  If the locations, with the current leases, cannot be sold, Big Lots would look at each store and lease to see if it would be more profitable to keep the store open, or close the store and work with the building owners to dissolve or minimize the lease agreement.

With this news, these Illinois Big Lots could quickly close or stay open for now.  However, they are clearly on the radar for the company to try to get out of these buildings and markets.

You can see the full list of stores nationwide for sale here.

New Illinois State Flag Top 10 Designs

Illinois Flag Commission

'HOKTUAH' And Other Rejected Illinois License Plates In 2024

Gallery Credit: Canva

More From ESPN 104.1 FM and 1170AM