Ollie's Bargain Outlet is expanding its footprint with the acquisition of more Big Lots locations. This move comes as Big Lots faces bankruptcy and closures. Ollie's has strategically acquired stores that align with its business model and target market.
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Ferozan has over 20 years of experience writing and editing in the health and wellness sphere. She has worked as a ...customers upset about losing their local stores might see a silver lining with news that Ollie’s Bargain Outlet (“Good Cheap Stuff”) is buying up several more locations. With Big Lots in bankruptcy, Ollie’s has snagged 8 new locations, in addition to the 7 they previously bought in October. 'We are, once again, very pleased to be the winning bidder on an additional eight store locations in another round of the Big Lots store closures,” says, President of Ollie’s. “These stores line up very well with Ollie's in terms of size of the stores, lease terms, customer demographics, and are located in communities in our existing trade areas… In 2024, we are on track to open 50 new stores, less two planned closures, and are evaluating the impact of the acquired Big Lots leases on our future store openings and cadence for the first half of fiscal 2025.' Here’s what customers need to know about the new stores.Ollie’s bought 7 lots at the beginning of October 2024, making it 15 for this quarter and 24 total. “We are very pleased to be the winning bidder for these store locations in the initial wave of Big Lots store closures,” said Chief Executive Officer. “These stores are the right size, located in good trade areas, and have served value-oriented customers for year
OLLE's BARGAIN OUTLET BIG LOTS BANKRUPTCY STORE ACQUISITIONS EXPANSION
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