Discount Chain Pricier Than Dollar Tree Plans to Open 200+ Locations Nationwide This Year

Big Lots plans to reopen nine stores across six states next month following its announcement about doing so. go out of business .

The store, renowned for providing items that are ' cheaper than Dollar Tree ' plans to launch 219 outlets across the country by June.

The initial wave encompasses stores located in Kentucky, Louisiana, Mississippi, North Carolina, Tennessee, and Virginia, making up one out of four total waves.

Following the acquisition of several Big Lots assets at the last minute by Variety Wholesalers, the new locations were established, which preserved hundreds of stores .

Variety Wholesalers CEO Lisa Seigies disclosed that the firm intends to swiftly relaunch the stores and introduce fresh items weekly.

Around 55 sites are scheduled for the second phase of openings, set to occur on May 1st.

The rest of the outlets will be unveiled gradually until early June, culminating in a major launch event this autumn.

Other Big Lots locations across various states such as Alabama, Florida, Georgia, Ohio, Michigan, Pennsylvania, South Carolina, and West Virginia consider these places their home base.

Last September, Big Lots grabbed attention when The company filed for bankruptcy. .

The final strike against Big Lots happened following its sale involving Nexus Capital Management fell through.

Having no alternative options, the store owner verified their decision to cease operations and shut down all of its leftover 900 outlets.

That all changed after the chain struck a deal with Gordon Brothers Retail Partners last December.

The firm purchased the company for $495 million and transferred the assets to Variety Wholesalers.

This encompasses approximately 200 to 400 BigLots stores along with two distribution centers.

"Thanks to our relentless work and tight partnership with Variety Wholesalers, we're ensuring the ongoing functioning of numerous Big Lots stores and assisting in retaining employees' positions," stated Al Williams from Gordon Brothers.

This partnership underscores the significant influence of Gordon Brothers' smoothly incorporated services on enterprises and the communities these businesses support.

The retailer had been facing financial difficulties for at least three years prior to the filing due to issues such as high inflation and interest rates.

The Ohio-based company experienced significant drops in sales, with these declines becoming more pronounced over time. possibility of bankruptcy .

The employees apparently showed little surprise over this revelation and stated that their superiors from headquarters had supplied them with items that customers declined to purchase.

Big Lots acknowledged that it urgently needed funds to offset its losses from 2002 through 2024.

Even though they faced financial difficulties, the company filed for Chapter 11 bankruptcy in September 2024, marking their first such filing since they started operations.

Since profits were still not showing improvement, Big Lots proceeded with closing locations. and layoff workers, including 555 corporate employees.

Former Bruce Thornthorpe, the CEO of Big Lots was also removed following the new ownership deal.

Siegies will keep overseeing the relaunch of the Big Lots brand, but it remains uncertain whether she will take over as Thorn's successor.