Big Lots closes Columbus distribution center, eliminating 374 jobs

The Columbus-based company notified the state this week that its distribution center at 300 Phillipi Road on the West Side will close by Oct. 31.

The company said all employees will continue to receive pay and benefits until November 3.

The distribution center closure comes about a month after the retailer said it was closing about 300 stores, nearly a quarter of its total locations. The retailer was also considering filing for bankruptcy, according to reports.

Big Lots shares closed Thursday at 46 cents. Three years ago, the stock was trading at $70.

The retailer is set to report its second-quarter financial results on Friday morning, at which time it will also provide guidance on its performance in the coming months.