Big Lots to close Franklin store; Other local stores remain

Ohio-based retailer Big Lots will be closing three more stores in Indiana, including one in Franklin.

The other latest Indiana stores that will close are in New Haven, and New Albany. Five other Big Lots stores have already closed in Indiana and 11 more are in the process of closing, but none locally.

The company is closing vearly 500 stores across the country after the retailer filed for Chapter 11 bankruptcy protection this year. The discount retailer is in financial trouble and reported a massive loss in net sales in the first quarter of this year. Its debt soared to roughly 574-million dollars this year as sales dropped by 114-million dollars.

Story courtesy of TTWN Media Networks