Home Gordon Brothers, Variety Wholesalers Deal Could Keep Up to 400 Big Lots Stores Going
January 2, 2025

Gordon Brothers, Variety Wholesalers Deal Could Keep Up to 400 Big Lots Stores Going

Posted In: Retail Articles

After entering Chapter 11 bankruptcy protection and warning of possible liquidation, Big Lots announced it entered an agreement with Gordon Brothers Retail Partners that enables the transfer of Big Lots assets, including stores, distribution centers and intellectual property, to other retailers and companies. Variety Wholesalers, which operates more than 400 stores in the Southeast and Mid-Atlantic United States, plans to acquire between 200 and 400 Big Lots stores as part of the transfer.

Variety Wholesalers operates a variety of formats under the banners Roses, Roses Express, Maxway, Bill’s Dollar Stores, Super 10, Super Dollar and Bargain Town banners, Big Lots noted. Plans call for Variety Wholesalers to operate the former Big Lots stores it would acquire under the Big Lots brand moving forward. The deal is subject to approval by the bankruptcy court, Big Lots pointed out, as well as other customary closing conditions.

Big Lots President and CEO Bruce Thorn, Big Lots’ President and Chief Executive Officer, stated, “The strategic sale to Gordon Brothers and the transfer to Variety Wholesalers is a favorable and significant achievement for Big Lots that reflects the tireless work and collective effort of our team. This sale agreement and transfer present the strongest opportunity to preserve jobs, maximize value for the estate and ensure continuity of the Big Lots brand. We are grateful to our associates nationwide for their grit and resilience throughout this process.”

Rick Edwards, Gordon Brothers Retail Partners’ head of North America retail, added, “We are pleased to reach this strategic agreement with Big Lots and partner with Variety Wholesalers to achieve a path forward that allows Big Lots to continue to serve customers with extreme bargains and an outstanding shopping experience.”

Share Now!

Related Posts: