Popular Discount Chain Closing Lafayette Store

Lafayette has seen a handful of businesses close in the last year. Small, locally-owned businesses aren't the only ones feeling the heat right now; major retailers have also started trimming down their locations to cut costs.

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The once-popular discount retailer Big Lots recently announced that it would be closing 40 stores nationwide. The original list shows dozens of stores closing in Florida, Kentucky, Indiana, and several other states. Louisiana was not listed, so we thought we were safe.

On Friday afternoon, Keith Olivier shared this photo on Facebook, confirming the sad news.

Big Lots Closing Lafayette, Louisiana Store

Big Lots, located at 3557 Ambassador Caffery Pkwy, Lafayette, LA 70503, appears to be having a 'store closing' sale. The signs on the widows say that the entire store is up to 20% off and 'Nothing Held Back.' We have not confirmed their final day of operation yet but customers are encouraged to take advantage of their final sale while it lasts

Big Lots has been vocal about their financial struggles and decreasing consumer market, "In 2024, the U.S. economy has continued to face macroeconomic challenges including elevated inflation, which has adversely impacted the buying power of our customers".

Their filing with the U.S. Securities and Exchange Commission, explains that inflation is not just effecting business owners and companies, its also affected how consumers shop and spend money.

Big Lots is closing after experiencing a consistent decrease in sales, dropping 10.2% in the past year. The total loss is estimated at $114.5 million. This does not include the additional $72.2 million in debt accrued, which, according to IndyStar, has led to 'speculation of bankruptcy'.

Big Lots is up against a grand total of $501.6 million in losses and debt combined, putting the discount retailer in a tough spot.

In the Louisiana cities of Houma, Lafayette, Lake Charles, Shreveport, Natchitoches, and 14 others, consumers are standing by.

Read More: Popular Retailer with 19 Louisiana Stores Contemplates Closures