Market
Number of Big Lots stores acquired by June 30, 2025?
3
Big Lots•Kate Stickles•Wilmington•Delaware•Gordon Brothers Retail Partners•Variety Wholesalers•Nexus Capital•Tempur Sealy•Serta Simmons
Resolution / Starting Odds
200-249 • 25%
250-299 • 25%
300-349 • 25%
350-400 • 25%
Official announcements from Big Lots or Gordon Brothers, financial news outlets
Story
Big Lots Approved to Sell 200 to 400 Stores to Gordon Brothers and Variety Wholesalers, Saving Jobs
Jan 3, 2025, 04:25 PM
Big Lots, a discount retailer, has received approval from U.S. Bankruptcy Judge Kate Stickles for a last-minute sale that will allow between 200 and 400 of its stores to remain open under new ownership. The sale, approved in Wilmington, Delaware, involves the transfer of Big Lots' stores, distribution centers, and intellectual property to Gordon Brothers Retail Partners and Variety Wholesalers. This deal aims to preserve the Big Lots brand and save between 5,000 and 10,000 jobs. The transaction follows the collapse of a previous agreement with Nexus Capital, which led Big Lots to initiate going-out-of-business sales at its remaining stores. However, the new deal will not fully repay vendors such as Tempur Sealy and Serta Simmons, who have objected to the sale due to outstanding debts of $250 million.
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Similar markets
301-350 • 25%
200-250 • 25%
251-300 • 25%
351-400 • 25%
350-400 stores • 25%
200-249 stores • 25%
250-299 stores • 25%
300-349 stores • 25%
Dollar General • 25%
Target • 25%
Other • 25%
Walmart • 25%
76-100% • 25%
51-75% • 25%
26-50% • 25%
0-25% • 25%
Operational under a different company • 25%
Brand dissolved • 25%
Brand sold to another entity • 25%
Operational under Variety Wholesalers • 25%
No • 50%
Yes • 50%
Less than 5,000 • 25%
10,001 to 15,000 • 25%
More than 15,000 • 25%
5,000 to 10,000 • 25%
Sold to Nexus Capital Management • 25%
Sold to another party • 25%
Other outcome • 25%
No sale, continue liquidation • 25%