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Chesterfield Big Lots Going Out of Business

The store is currently discounting all merchandise by 20 percent.

The Big Lots in Chesterfield Valley is closing after being open for less than two years. 

Store Manager Travis Chapman confirmed that the store is going out of business Friday but declined to say why or when it would be officially closed. The store is currently marking down all merchandise by 20 percent and the savings could increase further. 

"We are going to have to ramp it up until it's all gone," Chapman said. 

The 23,000-square-foot store taking over a spot that had previously been occupied by a Circuit City. 

The national chain offers close-out prices on brand name products but has recently been plagued by a federal investigation into its CEO and Chairman Steven Fishman, who announced his intentions to retire Dec. 4. On the same date, the company also told investors that it had an operational loss of $6 million for the third quarter. 

Fishman is being investigated for allegedly dumping stock in the company ahead of news in April of this year that sales at Big Lots stores had fallen. The news sparked a large sell-off by investors and a drop in the company's stock price. 

Gennifer Holden December 08, 2012 at 09:41 PM
And we have two outlet malls opening with how many more stores?? Right! Just what we need! More discount stores that close and leave vacant areas.
Karen Taylor-Rosner December 09, 2012 at 05:34 AM
I agree, Gennifer. Soon Chesterfield will be filled with vacant store fronts/malls when those two new outlet malls open. There's no way all these stores are going to be able to make it financially over the long haul. And this was supposed to be such a great move for Chesterfield to have two outlet malls? You got to be kidding.
David Altman January 09, 2013 at 07:37 AM
Looks like about half the merchandise in store has been sold. Down to 50% off.

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