Big Lots officials have identified 54 California stores designated for closure after a disappointing earnings report, and the Culver city store at 5587 Sepulveda Boulevard is among those on the chopping block.
The store closures were announced individually on the chain’s company website. They come on the heels of an earnings statement that mentioned a decline in net sales and a “possible credit snafu.” Also noted was a prolonged decline in sales across Big Lots’ home furnishings division.
In an early July filing to the U.S. Securities and Exchange Commission, the discount retailer said it planned to close 35 to 40 stores this year and open three. The company warned in a regulatory report that it has “substantial doubts” it can continue in business.
The actual closing date is yet to be confirmed.
