Big Lots Reaches Strategic Agreement to Preserve Brand and Jobs – Scioto Post

Columbus – As store begin to liquidate and sales start in most stores in the area Big Lots is aiming to preserve the brand in a last ditch effort.

Big Lots, Inc. announced on December 27, 2024, that it has entered into a strategic sale transaction with Gordon Brothers Retail Partners, LLC. This agreement will facilitate the transfer of Big Lots assets, including hundreds of stores and distribution centers, to other retailers, notably Variety Wholesalers, Inc.

Under the agreement, Variety Wholesalers plans to acquire between 200 and 400 Big Lots stores, which it will continue to operate under the Big Lots brand. The company, which operates more than 400 retail locations in the Southeast and Mid-Atlantic U.S. under various banners, aims to also acquire up to two distribution centers. In doing so, Variety Wholesalers has indicated it may retain existing Big Lots employees at the acquired locations and certain corporate positions to support the transition.

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Bruce Thorn, President and CEO of Big Lots, expressed optimism about the agreement, highlighting it as a significant step toward preserving jobs and ensuring the continuity of the Big Lots brand. “This sale agreement presents the strongest opportunity to maximize value and uphold the dedication of our team,” he said, thanking associates for their resilience during this process.

Rick Edwards, Head of North America Retail for Gordon Brothers, emphasized the positive impact of the partnership, stating, “We are pleased to reach this strategic agreement with Big Lots and partner with Variety Wholesalers to allow Big Lots to continue serving customers with outstanding bargains.”

Lisa Seigies, President and CEO of Variety Wholesalers, also voiced her enthusiasm, expressing eagerness to collaborate with the Big Lots team to explore new opportunities ahead.

The agreement is pending approval by the Bankruptcy Court and will adhere to other customary closing conditions.