News Photo by Torianna Marasco The Big Lots in Alpena is seen in this photo taken Tuesday. The store, located at 2680 U.S.-23 South, plans to remain open as it is missing from the list of the nearly 300 closures announced.

ALPENA — The Big Lots in Alpena is not on the list of nearly 300 stores that will close. The company announced on Monday that it filed for bankruptcy and released the locations where stores will be closed.

There are 11 stores in Michigan that will close, with the closest to Alpena being in Petoskey.

In July, Big Lots announced it planned to close about 40 stores in a Securities and Exchange Commission filing, then the number rose to about 300 in a similar filing last month.

Big Lots did not say if there could be more store closures in the future.

The closures are part of a sale agreement with an affiliate of Nexus Capital Management LP, Big Lots announced in a news release Monday.

The news release added that the company is focused on improving sales and profitability since the COVID-19 pandemic. Referring to factors such as high inflation and interest rates, the company said it has been hit by circumstances that are beyond its control which have made it difficult for the company to carry on business as usual.

The news release also says the company’s customer base has been more cautious about spending money on home and seasonal products that make up a large portion of the company’s revenue.

The Alpena Big Lots, which is located at 2680 U.S.-23 South, is the primary tenant of the Giantway Plaza Shopping Centre and a staple for retail shopping on that side of town. The closure of the store would have put a dent in a recent development spurt on the southside of Alpena that includes a new Ollie’s Bargain Outlet store and a new restaurant in the Thunder Bay Shopping Centre. The new facility for the All-Inclusive Care for the Elderly (PACE) is also being opened in the Giantway Plaza where the former Pebble store was located.

All-Inclusive Care for the Elderly is a non-profit organization whose goal is to provide the “highest quality of life” for seniors while allowing them to stay independent as long as possible.

That side of Alpena has already had one store announced that it is closing its doors. Rite Aid, a popular pharmacy, announced it was closing its local store after it filed for Chapter 11 bankruptcy in October of last year.

Years ago, the south side of Alpena was its primary business hub with The Alpena Mall, KMart, and other businesses welcoming shoppers. Over the years, the mall and KMart were closed and sold to I2P which still utilizes the old facility for manufacturing. The local Burger King near the old mall also closed in 2020.

Steve Schulwitz can be reached at 989-358-5689 or sschulwitz@thealpenanews.com. Follow him on Twitter @ss_alpenanews.com.