To close out 2024, Big Lots got the seal of approval that would save the brand and keep hundreds of stores open.
On Tuesday, bankruptcy judge Kate Stickles approved a last-minute sale of 200 to 400 stores to discount retailer chain Variety Wholesalers, Inc., which said it would continue to operate the locations under the Big Lots brand name. According to Big Lots, the sale would preserve 5,000 to 10,000 jobs.
Either one or both of Big Lots’ remaining distribution centers in Alabama and Pennsylvania are expected to be included in the sale.
Variety Wholesalers may employ Big Lots associates at the acquired stores and distribution centers, as well as certain corporate associates needed to support the go-forward footprint, the companies said on Dec. 27 ahead of the bankruptcy court’s approval.
Sourcing Journal reached out to representatives from Big Lots.
However, there have been casualties across the presently liquidating company throughout its bankruptcy proceedings.