Big Lots Strikes Deal to Keep 200 to 400 Stores Open and Save Thousands of Jobs, Pending Bankruptcy Court Approval

Dec 28, 2024, 10:08 PM

Big Lots, the discount retailer that filed for bankruptcy protection in September, has reached a deal with Gordon Brothers Retail Partners to keep hundreds of its stores open. This agreement comes after the company previously announced plans for liquidation sales. The deal is expected to preserve the brand, save between 200 and 400 stores, and protect thousands of jobs. The sale transaction allows for the transfer of Big Lots' assets to other retailers, ensuring continuity for the business. The agreement is pending approval by a bankruptcy court, but it represents a critical step in preventing the complete closure of the chain.