If there's one thing that 2024 has taught us, it's that when a company files for bankruptcy the decision to close locations comes swiftly!
If we time travel back to this time exactly a year ago, rumors that Rite Aid was on the verge of filing for bankruptcy were everywhere. After its stock was trading at below $1 for 30 trading days in a row, they were in danger of being delisted from the New York Stock Exchange, too. Days later, the struggling pharmacy chain did file for bankruptcy and Idaho lost four stores, all located in the Boise area.
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This year we've seen that story repeated over and over again as these big brands opted to choose some or all of their locations in Idaho. Another brand is very close to joining the list.
As we recently reported, Big Lots filed for bankruptcy on September 9 after months of speculation that they were close to doing so. A few days later, their bankruptcy docket was updated with a list of 394 locations that were part of the initial list of stores marked for closure.
At the time, it looked like only one Idaho location was getting the ax. The store located at 7001 W State Street in Boise was listed as closing. While the decision is sad for discount shoppers in the Treasure Valley, they can still make the 10 mile drive to the Meridian location on Fairview.
Since the bankruptcy filing, Big Lots has added more than 40 other locations to the list of closing stores. It's more bad news for Idaho. The Pocatello location at 1000 Pocatello Creek Rd is being cut from the company's footprint. Their website has been updated with the dreaded "Closing This Location" banner that other stores received through the summer. It's unclear when the store's final day will be.