Additional Coverage:
- 40 Former Big Lots Stores to Become Ollie’s Bargain Outlet. Here’s Where (blog.cheapism.com)
Retailers have faced a challenging year, with some companies like Joann closing entirely and others like Rite Aid shuttering numerous locations. Big Lots also declared bankruptcy in September 2024, citing a confluence of factors including decreased demand for home goods due to a sluggish housing market, persistent inflation, high interest rates, and a general slowdown in consumer spending post-pandemic.
While the future of Big Lots seemed uncertain, other retailers saw opportunity. Variety Wholesalers acquired and reopened a significant number of Big Lots locations, breathing new life into the brand. As of this month, 219 former Big Lots stores are operating under Variety Wholesalers’ management.
Ollie’s Bargain Outlet also capitalized on Big Lots’ closure, acquiring 40 former locations through auction. Recognizing the existing customer base for discount retailers in these areas, Ollie’s has already opened 18 new stores in former Big Lots spaces across a dozen states, including locations in Georgia, Illinois, Wisconsin, Louisiana, Tennessee, Indiana, Michigan, Ohio, Connecticut, Vermont, Missouri, Kentucky, and Texas.
Ollie’s expansion extends beyond former Big Lots locations, with additional new stores opening this year in states such as Michigan, Oklahoma, Illinois, and Maine. The discount retail landscape continues to shift, with companies like Ollie’s and Variety Wholesalers adapting and expanding amidst the changing market dynamics.
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- 40 Former Big Lots Stores to Become Ollie’s Bargain Outlet. Here’s Where (blog.cheapism.com)