SAN FRANCISCO — After announcing all Big Lots stores will close just a week ago, the company now says 200 to 400 locations may be saved thanks to a last minute sale.
Some of these Big Lots locations could now be run by Variety Wholesalers, Inc., who owns and runs stores like: Roses, Roses Express, Maxway, Bill’s Dollar Stores, Super 10, Super Dollar, and Bargain Town, in the southeast and Mid-Atlantic, according to a Big Lots press release.
If the sale gets approved by a bankruptcy court, the Big Lots name will remain and many employees at stores and up to two distribution centers will be able to keep their jobs.
“This sale agreement and transfer present the strongest opportunity to preserve jobs, maximize value for the estate and ensure continuity of the Big Lots brand,” said Bruce Thorn president and CEO of Big Lots. “We are grateful to our associates nationwide for their grit and resilience throughout this process.”
Gordon Brothers Retail Partners, LLC is handling the sale. In a Friday press release, the company said Variety Wholesalers is one of the retailers part of the deal. It’s unclear what other retailers may be involved in the deal, or how many locations they would keep.
The company currently owns 963 locations in the U.S., but closed more than 400 stores in 2024, a significant cut as Big Lots tried to find a buyer after filing for Chapter 11 bankruptcy protection in September.
Big Lots, which mostly sells furniture, home decor and some other items, previously said high inflation and interest rates have hurt its business as consumers have pulled back on their home and seasonal product purchases, two categories the chain depends on for a significant part of its revenue.
It’s unclear at this time where the locations would remain open if the deal is approved.