- U.S.-based discount retail chain Big Lots has announced plans to exit the Canadian retail landscape.
- The company – which also operates Liquidation World stores – says it will close all 78 store locations currently being operated in Canada by early next year.
- The decision by the company could affect up to 1,600 current Big Lots and Liquidation World employees throughout mainland Canada.
Big Lots is citing a lack of capital and stiff competition as the primary factors in its decision to cease operations north of the border. The company lost a total of $13.5 million from its Canadian operations in 2012 alone, and the recent entry of Target and Wal-Mart into the Canadian retail market hasn’t helped ease the level of competition for chain store retailers in Canada.