Big Lots strikes deal to save stores, stop brand from closing

Published On Dec 28, 2024, 8:05 AM

Big Lots Inc. has made a strategic deal to save hundreds of its stores from closing amidst its ongoing bankruptcy proceedings. The deal involves transferring the brand and assets to Gordon Brothers Retail Partners and will involve Variety Wholesalers, which seeks to acquire between 200 and 400 locations. This deal comes after a previous agreement to sell to Nexus Capital Management fell through due to an unfavorable inventory appraisal.