Published 2 months ago • loading... • Updated 2 months ago

Big Lots reaches deal to keep hundreds of US stores open

Big Lots has reached a deal to keep hundreds of stores open after filing for bankruptcy in September.
The deal involves Gordon Brothers Retail Partners facilitating the transfer of Big Lots' brand, stores, and distribution centers.
Variety Wholesalers will acquire between 200 and 400 Big Lots stores and up to two distribution centers.
The agreement aims to preserve jobs and ensure continuity of the Big Lots brand, according to Bruce Thorn, Big Lots' president and chief executive.

Insights by Ground AI

Does this summary seem wrong?

172 Articles

All

Left

Center

Right

Ocala-News.com

Hundreds of Big Lots locations saved, future of Ocala stores unclear

A company that owns Roses locations across the nation has stepped in to save hundreds of Big Lots stores that were among over 1,000 scheduled to close, with no word yet on whether any Ocala locations will remain open. Read more: Hundreds of Big Lots locations saved, future of Ocala stores unclear

2 months ago

Read Full Article

Business Insider

Big Lots just received a last-minute lifeline

Big Lots says a new deal would preserve thousands of jobs at stores, distribution centers, and certain corporate roles.Áine Cain / Business InsiderBig Lots has reached a deal that would preserve between 200 and 400 stores across the US.The agreement with Gordon Brothers Retail Partners follows the collapse of an earlier rescue plan.If approved, the company says the $496 million deal would preserve thousands of jobs.The Big Lots story isn't over …

2 months ago·United States

Read Full Article

The US Sun

Big Lots CEO reveals going-out-of-business process could 'be reversed'

AFTER filing for bankruptcy and shuttering hundreds of locations, Big Lots may have a second chance in the retail landscape. The discount retailer may be able to continue operating and reverse its plan to close its remaining stores if a key deal goes through. Big Lots may have a second chance at keeping some of its stores openGetty GettyBig Lots filed for bankruptcy in September this year and subsequently planned to shutter all of its stores[/c…

2 months ago

Read Full Article

The Business Journals

Big Lots strikes deal with Gordon Brothers that could save brand, hundreds of stores

Less than 10 days after Big Lots announced a purchase agreement had fallen through and it was shuttering all its stores and laying off employees – including CEO Bruce Thorn — the discount retailer has agreed to a new deal with Boston-based Gordon Brothers Retail Partners. Big Lots, which is in the middle of a Chapter 11 bankruptcy reorganization, said in a press release this past weekend that the deal sets up the transfer of its assets – stores,…

2 months ago·United States

Read Full Article

The Daily Dot

‘Watch the prices!’: Woman goes to Big Lots for going out of business sale. Then she looks at the deals

A woman is going viral on TikTok after calling out Big Lots for not marking down its prices more after announcing it was closing its remaining locations. Krista (@krista144) visited the store on Dec. 26, where she said she anticipated buying items for cheap. However, the content creator said she was shocked at the high prices of most goods. “Big Lots: ‘Hey we’re going bankrupt…’” Krista wrote in the text overlay of her clip. She said that most…

2 months ago·United States

Read Full Article

Big Lots is saved: Discount chain strikes a deal with firm to keep up to 400 stores open

Big Lots announced plans on Friday, Dec. 20 to close all stores and hold going out of business sales before reaching this deal with Variety Wholesalers

2 months ago·New Jersey, United States

Read Full Article

Think freely.Subscribe and get full access to Ground NewsSubscriptions start at $9.99/year