Conn’s HomePlus, a Texas-based retailer, has recently declared bankruptcy and announced the closure of 71 out of its 170 stores. This decision was made due to declining sales and a decrease in consumer spending.
In Arizona, seven Conn’s HomePlus locations will be shutting down. These include stores in Yuma, Tucson, Marana and four in Phoenix.
At the same time, Big Lots is also facing financial difficulties and plans to close several store locations this year. According to their filing with the U.S Securities and Exchange Commission last month, they will be closing 35-40 stores while opening three new ones.
The reason for these closures is attributed to customers’ financial struggles. However,a specific date for these closings has not been disclosed by Big Lots yet.
Out of their total 34 Arizona locations,Big Lots plans on closing down thirteen including Flagstaff,Tucson,and nine within Phoenix area.
