Big Lots, Inc. has announced a sale transaction with Gordon Brothers Retail Partners, which will facilitate the transfer of the company’s assets, including stores, distribution centers, and intellectual property, to other retailers. Notably, Variety Wholesalers, Inc., which operates over 400 retail stores in the Southeast and Mid-Atlantic under various banners, plans to acquire 200–400 Big Lots stores. These stores will continue to operate under the Big Lots brand, and Variety Wholesalers may also acquire up to two of the company’s distribution centers.
The agreement also opens the possibility of employing Big Lots associates at the acquired locations, ensuring continuity for employees.
Bruce Thorn, Big Lots’ President and CEO, expressed optimism about the deal, stating that it reflects the efforts of the company’s team and presents a strong opportunity to preserve jobs, maximize value, and maintain the Big Lots brand.
Rick Edwards, Head of North America Retail at Gordon Brothers, highlighted the positive nature of the deal, emphasizing its potential to keep serving customers with the Big Lots brand.
Variety Wholesalers’ President and CEO, Lisa Seigies, also expressed enthusiasm about the partnership, saying the acquisition provides an exciting opportunity to work with Big Lots associates moving forward.
The transaction is subject to approval by the Bankruptcy Court and other customary closing conditions.
