Big Lots, a struggling discount retailer, is being sold to Gordon Brothers Retail Partners, which will then transfer its assets to other retailers. Variety Wholesalers is planning to acquire a significant number of Big Lots stores.
Big Lots , a discount retailer known for selling furniture, home decor, and other items, is being sold to Gordon Brothers Retail Partners, a firm that specializes in distressed companies. Gordon Brothers will then transfer Big Lots ' stores, distribution centers, and other assets to other retailers. Variety Wholesalers Inc., which owns more than 400 discount stores in the U.S.
Southeast and Mid-Atlantic regions, plans to acquire between 200 and 400 Big Lots stores and operate them under the Big Lots brand. Variety Wholesalers will also acquire up to two distribution centers. Big Lots filed for bankruptcy in September, citing inflation and high interest rates as factors that caused consumers to reduce spending on home and seasonal products, two key revenue sources for the chain
Big Lots Retail Bankruptcy Acquisition Gordon Brothers
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