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    Sunday, November 10, 2024

    Big Lots closing store in New Milford on Saturday amid large-scale shutdown

    New Milford — Shoppers visiting the Big Lots store in Litchfield Crossings Plaza are finding additional discounts on store merchandise as the discount retailer prepares to close its New Milford location this Saturday.

    Officials at Big Lots location in the shopping plaza at 169 Danbury Road in New Milford confirmed the retail discount store will close for good at 9 p.m. Saturday. Most of the store's merchandise is discounted at a 60 percent to 70 percent off sale, officials stated.

    Litchfield Crossings Plaza declined to comment on Big Lots' closure or on its plans for the vacant retail space in the shopping plaza.

    Big Lots is closing nine of its 16 Connecticut stores, including in Newington, Norwich, Torrington, Waterbury, Windsor, Manchester, Milford and Waterford. The Ohio-based company is offering sale prices on remaining stock, with the discount expected to increase as stores approach their closure dates.

    "We missed our sales goal due largely to continued pullback and consumer spending by our core customers — particularly in high-ticket discretionary items," Big Lots CEO Bruce Thorn said on a conference call in early June. "Personal saving rates have been declining while credit card balances have grown, indicating the pressure our core consumer is under as they try to manage their strained budgets."

    Big Lots' corporate office could not be reached for comment this week.

    Big Lots filed for bankruptcy protection last month after reaching a sale agreement to a private equity investment firm. Additionally, the company, which has secured more than $700 million in fresh financing to continue operating during the bankruptcy sale process, requested permission from a judge to formally exit leases for its stores in Manchester, Milford, Waterbury and Waterford.

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