Big Lots, which filed for bankruptcy in September, has secured an agreement with Gordon Brothers Retail Partners to keep hundreds of stores and distribution centers operational.
Gordon Brothers will transfer Big Lots’ assets to other retailers, with Variety Wholesalers set to acquire 200–400 stores and up to two distribution centers, maintaining operations under the Big Lots brand.
CEO Bruce Thorn emphasized the deal’s role in preserving jobs and brand continuity. Initially, Big Lots planned to sell its assets to Nexus Capital Management, but that deal fell through, prompting the current arrangement.
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