Big Lots stores may stay open under new deal

The discount retail store chain Big Lots may have given employees and customers of the Southaven store on Stateline Road an extra Christmas present with an announcement that came out on Friday, Dec. 27, although some questions remain. 

The franchise, based in Columbus, Ohio, had filed for bankruptcy in September and recently announced it would close all of its stores after a potential sale to Nexus Capital Management broke down.  At that time, the Southaven location was among those stores reportedly set for closing.  

Friday, it was released that the company had agreed to a deal with Gordon Brothers Retail Partners, an asset liquidation firm. The deal would transfer between 200-400 stores and up to two distribution centers to Variety Wholesalers, Inc., which has retail stores under different names in the Southeast and Mid-Atlantic states. A bankruptcy court needs to approve the transaction.  

The news release announcing the transaction is found here.

As of March, Big Lots had around 900 stores across its national footprint.  There are 12 Big Lots store locations in Mississippi.

Variety Wholesalers, a North Carolina based concern, plans to operate the stores it acquires under the Big Lots brand and operate up to two distribution centers. In addition, 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.

What’s still a question is what stores will be acquired by Variety Wholesalers and what will happen with the remaining stores not integrated into this deal. A list of stores being acquired was not immediately released.