Big Lots Strikes Deal with Gordon Brothers to Save 200-400 Stores and Thousands of Jobs After Bankruptcy Filing in September

Dec 28, 2024, 07:30 PM

Discount retailer Big Lots has reached a deal with Gordon Brothers Retail Partners to keep between 200 and 400 of its stores open, following its bankruptcy filing in September. This agreement comes after an earlier sale attempt fell through, which had put the future of the chain in jeopardy. The deal aims to preserve the Big Lots brand and save thousands of jobs associated with the stores. The agreement will allow Gordon Brothers to transfer Big Lots’ stores and distribution centers to other retailers, ensuring the continuation of operations in a significant number of locations. The deal is contingent upon approval by a bankruptcy court.