Beloved discount retailer Big Lots, which filed for Chapter 11 bankruptcy last year, is making a comeback thanks to a sale to Gordon Brothers Retail Partners.
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This Once-Popular Department Store Is Planning a Comeback The fate of beloved discount retailer Big Lots has been up in the air for some time now. The chain first started closing locations in late 2022, then filed for Chapter 11 Bankruptcy in Sept. 2024. Things were looking up when a deal with Nexus Capital was on the table, but when that last month, the situation appeared dire once more. Thankfully, that quickly changed when another opportunity presented itself, and shoppers were thrilled that between 200 and 400 locations may stay open due to a sale to Gordon Brothers Retail Partners. And as of Jan. 3, Big Lots confirmed that it has closed its sale agreement with the company to acquire hundreds of stores., confirming that Variety Wholesalers, Inc. will acquire between 200 and 400 of the currently operating Big Lots stores and continue to operate them under the Big Lots brand name. The company will also keep 'up to two' distribution centers functioning and may employ current associates at stores and certain corporate associates 'needed to support Big Lots' go-forward footprint.' 'We are pleased to close this strategic transaction, which provides a framework to preserve thousands of jobs, maximize value, and maintain the Big Lots brand,', Big Lots' president and CEO, said in the release. 'We are working closely with the Gordon Brothers and Variety Wholesalers teams on this transition. We are grateful for the continued hard work and dedication of Big Lots associates across the Compan
Big Lots Retail Bankruptcy Comeback Gordon Brothers Variety Wholesalers
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Big Lots to be Sold to Gordon Brothers, Hundreds of Stores to Remain OpenBig Lots, a furniture and home decor retailer, has reached a deal to be sold to Gordon Brothers Retail Partners. The sale will see Big Lots' stores, distribution centers, and other assets transferred to various retailers. Variety Wholesalers Inc. plans to acquire 200-400 Big Lots stores and operate them under the Big Lots brand. This agreement aims to preserve jobs, maximize value for the estate, and ensure the continuity of the Big Lots brand.
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Variety Wholesalers to Acquire Hundreds of Big Lots StoresBig Lots, which filed for bankruptcy in September, reached a deal with Gordon Brothers Retail Partners to sell its assets. Variety Wholesalers Inc. plans to acquire 200 to 400 Big Lots stores and operate them under the Big Lots brand. This acquisition aims to preserve jobs, maximize value for the estate, and ensure the continuity of the Big Lots brand.
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Big Lots to be Sold to Gordon Brothers, Hundreds of Stores to Remain OpenBig Lots, the discount chain that filed for bankruptcy protection in September, will be sold to Gordon Brothers Retail Partners. Gordon Brothers will then transfer Big Lots' stores, distribution centers, and other assets to other retailers. Variety Wholesalers Inc. plans to acquire between 200 and 400 Big Lots stores and operate them under the Big Lots brand.
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Big Lots Sold to Gordon Brothers, Hundreds of Stores to Remain OpenDiscount chain Big Lots has reached a deal to be sold to Gordon Brothers Retail Partners, a firm specializing in distressed companies. Gordon Brothers will transfer Big Lots' assets to other retailers, with Variety Wholesalers Inc. acquiring 200-400 stores and operating them under the Big Lots brand. This sale aims to preserve jobs, maximize value, and ensure the continuity of the Big Lots brand.
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