Big Lots will be sold to Gordon Brothers Retail Partners, who will then transfer the stores to other retailers, including Variety Wholesalers. Variety Wholesalers plans to operate between 200 and 400 Big Lots stores under the Big Lots brand.
Big Lots will be sold to Gordon Brothers Retail Partners, which specializes in distressed companies. Gordon Brothers will then transfer Big Lots ’ stores to other retailers. The transfer of Big Lots assets, including stores, distribution centers and intellectual property, to other retailers and companies, will include Variety Wholesalers , Inc.
, which owns more than 400 stores in the Southeast and Mid-Atlantic states under the Roses, Roses Express, Maxway, Bill’s Dollar Stores, Super 10, Super Dollar and Bargain Town banners. Big Lots says Variety Wholesalers intends to acquire between 200 and 400 Big Lots stores, which it plans to operate under the Big Lots brand, and up to two distribution centers. In addition, Variety Wholesalers may employ Big Lots associates at the acquired stores and distribution centers, as well as certain corporate associates. Big Lots previously cited inflation and high interest rates as factors cutting back on consumer demand for its furniture and other products. At that time, it said it was closing more than 300 of its 1,400 stores nationwide. Big Lots has stores in Montgomery, Andalusia and Auburn. It is not known if those stores will be among the 200-400 that are scheduled to stay open
Big Lots Retail Sale Gordon Brothers Variety Wholesalers
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Big Lots to Sell Assets to Variety Wholesalers in BankruptcyBig Lots has agreed to sell its stores, distribution centers, and intellectual property to Variety Wholesalers in an attempt to maintain its brand and secure jobs. Variety Wholesalers plans to acquire 200 to 400 Big Lots stores and two distribution centers, retaining the associates under the Big Lots brand.
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Big Lots Sells Assets to Variety WholesalersBig Lots is transferring its assets to Variety Wholesalers, which will acquire between 200 and 400 Big Lots stores and potentially retain some employees. This sale represents a significant portion of Big Lots' remaining retail footprint after closing over 500 locations in the past year.
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Big Lots to be Sold to Gordon Brothers, Variety Wholesalers to Acquire StoresBig Lots, facing bankruptcy due to economic pressures, will be sold to Gordon Brothers Retail Partners, who will transfer its assets to various retailers. Variety Wholesalers Inc. plans to acquire a significant number of Big Lots stores and continue operating under the existing 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 Finds Buyer in Variety Wholesalers, Avoiding Full LiquidationBig Lots, the struggling discount retailer, has reached an agreement to be acquired by Variety Wholesalers Inc. This deal will see between 200 and 400 Big Lots stores continue operating under the Big Lots brand, averting a complete liquidation. Variety Wholesalers will also acquire up to two distribution centers. Previously, Big Lots had planned to sell its assets to Nexus Capital Management but that deal fell through. The retailer ultimately partnered with Gordon Brothers to conduct going-out-of-business sales.
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Big Lots Sold to Gordon Brothers, Variety Wholesalers to Acquire StoresBig Lots, facing financial difficulties, is being sold to Gordon Brothers Retail Partners. Variety Wholesalers Inc. will acquire a significant portion of Big Lots' stores and operate them under the Big Lots brand.
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