Wednesday, 30 April 2025

After Filing Bankruptcy, Major Store Retailer Is Looking To Make A Comeback By Reopening 132 Stores

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Big Lots has announced it plans to reopen 132 stores just six months after filing for bankruptcy.

The move comes as Big Lots looks to rebrand itself under new ownership.

Last year in September, Big Lots reached a deal to be acquired by Gordon Brothers Retail Partners.

As part of the deal, nearly 400 Big Lots stores that were set to close would be reopened and managed by Variety Retailers.

Variety Wholesalers CEO Lisa Seigies, shared, “We’re excited to bring an additional 132 Big Lots! locations back to life in May.”

Check out what CBS News reported:

Big Lots is planning to reopen 132 more stores in May as the bankrupt discount retailer works to rebuild its brand under new ownership.

After filing for bankruptcy in September of last year and moving to liquidate its stores, the Ohio-based retailer in December reached a last-minute deal to be acquired by Gordon Brothers Retail Partners, a Boston-based asset advisory firm.

As part of that agreement, between 200 and 400 Big Lots stores set to be closed were acquired by Variety Wholesalers, a discount retailer with more than 400 stores in the U.S. Variety Wholesalers continues to operate them under the Big Lots brand. At the time it was sold, Big Lots had a total of 869 stores.

The planned expansion builds on reopenings of Big Lots stores in April, which included nine locations across Kentucky, Louisiana, Mississippi, North Carolina, Tennessee and Virginia, a Big Lots spokesperson told CBS MoneyWatch.

“We’re excited to bring an additional 132 Big Lots! locations back to life in May,” Variety Wholesalers CEO Lisa Seigies, said in a statement. “The customer response to the newly expanded assortment of fresh inventory and great deals has been overwhelmingly positive.”

Per OANN:

Big Lots, the U.S. discount retail chain specializing in the sale of closeout and overstock merchandise, has announced that they are reopening over 130 stores that shuttered last year following its bankruptcy filing.

The stores set to open back up in May will be in 14 different states, mostly in the south.

“We’re excited to bring an additional 132 Big Lots! locations back to life in May,” said Lisa Seigies, president and CEO of Variety Wholesalers.

Last September, the company filed for bankruptcy and closed around 1,000 stores — though it was later acquired by Gordon Brothers Retail Partners.

Variety Wholesalers currently operates close to 400 stores and brands, including Maxway, Big Lots, and Roses Discount Stores.

The new owners then began to reopen Big Lots stores at a number of locations in six states on April 10th, as part of the first wave of a four-phase process.

This is a Guest Post from our friends over at WLTReport.

View the original article here.


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