If you’ve driven down 10th Avenue South in Great Falls lately, you might have noticed the mood around the local retail landscape feels a little... shaky. It’s no secret that the national retail scene is currently a bit of a train wreck. We've seen massive chains that felt like permanent fixtures of the American suburban experience basically evaporate overnight. So, when news started circulating about the Big Lots Great Falls location, people naturally got worried.
The store at 700 10th Ave S has been a staple for anyone looking to snag a cheap patio set or an oddly specific brand of off-label cereal. It's the kind of place where you go in for a single bottle of laundry detergent and walk out with a $400 gazebo and a bag of Himalayan sea salt popcorn. But things changed quickly in late 2024 and early 2025.
Big Lots, as a corporate entity, hit a massive wall. They filed for Chapter 11 bankruptcy protection after years of struggling with high inflation and a shift in how people spend their "fun money." Basically, people stopped buying couches and started spending their cash on groceries and gas. That ripple effect hit Montana hard.
The Reality of the Big Lots Great Falls Closure
Let’s be blunt: the Big Lots Great Falls store was added to the ever-growing list of nationwide closures. It wasn't just a rumor or a "maybe." The company began flagging underperforming stores across the country, and unfortunately, the Electric City didn't make the cut for the "keep open" list.
It sucks.
Losing a discount retailer in a town like Great Falls isn't just about losing a place to buy cheap pillows. It's about the jobs. It's about the foot traffic for neighboring businesses. When a massive anchor tenant like this goes dark, the whole shopping center feels the chill. The Great Falls location was part of a wave of closures that also took out the Helena store, leaving the brand's footprint in Montana looking pretty thin.
The liquidation process was typical of what we see in these bankruptcy scenarios. First, it’s the 10% off signs. Then 30%. Then, suddenly, you’re looking at empty shelves and fixtures being sold for $5 a pop. If you were hoping for a last-minute miracle, the bankruptcy filings and subsequent court approvals for lease terminations pretty much sealed the deal for the Great Falls site.
Why Discount Retailers are Struggling in the 406
You might wonder why a place like Big Lots would fail here. Montanans love a bargain. We’re practically built on the idea of making a dollar stretch until it screams. But the math for Big Lots Great Falls just stopped adding up.
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The "Big Lots model" relies on extreme value—buying up overstock and selling it cheap. But when supply chains stabilized after the pandemic, there was less "random" overstock to buy. Combine that with the fact that shipping heavy furniture to a relatively isolated market like Great Falls costs a fortune, and you start to see the cracks.
- Rent prices for commercial real estate in Great Falls haven't exactly plummeted, even as retail slows down.
- Competition from Walmart, Target, and even the dollar stores narrowed the niche Big Lots used to own.
- The rise of Temu and other ultra-cheap online marketplaces cannibalized the "impulse buy" market that Big Lots lived on.
It’s a tough environment. Honestly, if you aren't a massive powerhouse like Amazon or a specialized boutique, you're in the "danger zone" of modern retail.
What’s Next for the 10th Ave S Space?
This is the question everyone is asking. That building is a significant chunk of real estate. You can't just leave it empty forever without it becoming an eyesore. In Great Falls, we’ve seen old retail spaces turn into everything from indoor pickleball courts to massive furniture showrooms.
Local developers are likely looking at the site, but the "big box" era is transitioning. We might see it split into smaller units. Think about how the old Sears or Kmart buildings have been repurposed. It’s rarely one single store replacing another. It’s usually a mix. Some people are holding out hope for a grocery alternative or a specialized gym, but nothing is set in stone yet. The bankruptcy court has to finalize the lease hand-offs before any new signs go up.
Understanding the Bankruptcy Context
To really get why Big Lots Great Falls went under, you have to look at the corporate headquarters in Columbus, Ohio. In their SEC filings, the company admitted they were losing hundreds of millions of dollars. They were caught in a pincer move: their core customer (low-to-middle income) was squeezed by inflation, and their operating costs were skyrocketing.
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They tried to pivot. They tried to focus more on furniture. They tried "The Lot" branding to make it feel more like a treasure hunt. None of it stuck fast enough. By the time Nexus Capital Management stepped in to acquire the remaining assets, the "pruning" of the Great Falls location was already a done deal.
It’s a pattern we see often. A company gets too big, takes on too much debt, and when the economy shifts, they have to amputate limbs to save the torso. Great Falls, unfortunately, was one of those limbs.
Practical Steps for Former Customers
If you were a regular at the Great Falls Big Lots, you’re probably looking for where to go now. You can't just swap one store for another and get the same "vibe," but you do have options.
- Check the Remaining Montana Locations: If you’re really committed to the Big Lots Rewards program or have gift cards, check the status of the Missoula or Billings stores before making a trip. The list of "surviving" stores has been fluid, so call ahead.
- Gift Card Strategy: If you still have a Big Lots gift card, use it online immediately. In bankruptcy situations, gift cards are often only honored for a specific window of time. Don't let that money vanish.
- Alternative Bargain Hunting: For those "treasure hunt" finds, local thrift stores like the St. Vincent de Paul or the Goodwill on 10th Ave are actually seeing an uptick in quality as people move away from big-box retail.
- Watch the Real Estate Listings: Keep an eye on local Great Falls business news for the "Request for Proposal" on that 10th Avenue South building. That will give you the first hint of what’s coming next.
The closure of Big Lots Great Falls marks the end of an era for that specific shopping corridor. It’s a reminder that even the biggest names aren’t safe from the shifting sands of the 2026 economy. While the loss of a discount staple hurts the wallet, the eventual redevelopment of that space offers a chance for something new to breathe life back into one of the city’s busiest streets.
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The best move now is to settle any outstanding returns or rewards points through their website and keep your ear to the ground for the next tenant. Retail is circular; something else will fill the void, even if it doesn't sell discounted gazebos.