Big Lots, which announced it would be closing all its stores last week, reached a deal with a firm to keep up to 400 stores open.
The discount retailer is partnering with asset liquidation firm Gordon Brothers Retail Partners, which will transfer ownership of the Big Lots stores to Variety Wholesalers, Inc, according to a press release from the company.
Variety Wholesalers plans to operate between 200 and 400 stores obtained in the deal and will keep the stores open under the Big Lots brand name.
Variety Wholesalers owns more than 400 stores in the southeast and the mid-Atlantic region, including chains such as Bargain Town, Bill’s Dollar Stores and Maxway.
Furthermore, the firm may employ current Big Lots employees at the stores and one or two distribution centers under the acquisition plan.
Big Lots originally announced that it plans to close all of its stores and hold going out of business sales on Friday, Dec. 20, after filing for Chapter 11 bankruptcy in September 2024.
The chain currently operates 902 stores nationwide, including 16 in New Jersey.
More Major Retailer Closings
- Macy’s store closings 2024: The latest on the stores closing this year
- Big Lots is going out of business and holding a major sale before closing its 908 stores
- Party City surprises shoppers with going out of business sale before shuttering over 850 stores
- Stop & Shop store closings 2024: See the full list of all the stores that closed this year
- Rite Aid closings 2024: See the full list of all the stores that closed this year
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Katherine Rodriguez can be reached at krodriguez@njadvancemedia.com. Have a tip? Tell us at nj.com/tips.