CINCINNATI — Big Lots stores have filed for bankruptcy, and the chain is closing more than 350 stores around the country.
Liquidation sales have begun at many of them, but is it worth checking out their closing sales? We found it depends on when you go.
Chris Shannon stopped by a Cincinnati store on Beechmont Avenue that just started its closing sale.
"It seems OK," she said. "I saved a little money. I got a sale on some birthday paper, and some things for my bathroom."
The sign on her store said discounts of up to 20% off.
But some shoppers came out frustrated, saying they found no great markdowns.
"It was just 10% off," one man told us. "I came here three times, but I've never seen anything down."
Few big markdowns during the initial days
That is the problem with liquidation sales in those first couple of weeks.
Prices that are 10 or 20% off the original price can seem like everyday pricing at a lot of stores. It takes several weeks for prices to drop to deep discount levels, but by then most of the best items are gone.
In Southwest Ohio, Big Lots is closing stores in:
- Springdale
- West Chester
- Colerain Township
- Cherry Grove (Beechmont)
- Centerville
Some of those stores are now in their final weeks, and are offering 30-50% off prices.
We found mattresses and some furniture at 30% off in Springdale, which appeared to be a great deal.
Cautions before you shop
There are some things you should know before you shop, the Better Business Bureau said.
For starters, there are no returns or refunds at liquidation sales. That means if an item you buy ends up being damaged, you cannot return it.
You should also beware of fake ads.
When chains start closing stores — like in recent years with Bed, Bath, and Beyond, Babies R Us, and Buy Buy Baby — scammers post fake ads on social media, claiming discounts of up to 90% off.
Megan O'Brien of the BBB told us "counterfeit ads are definitely a way for scammers to target someone who's excited by a deal, there is that sense of urgency."
However, these Big Lots clearance deals are not available online, as the company is still in business and not all stores are running closing sales.
And to get those 50% markdowns, you may have to wait for the last days of the sale, so you don't waste your money.
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