Big Lots Inc. has successfully closed its previously announced sale agreement with Gordon Brothers Retail Partners, LLC that will enable Variety Wholesalers Inc. to acquire between 200 and 400 Big Lots stores, which it plans to operate under the Big Lots brand, and 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 Big Lots’ go-forward footprint.
Bruce Thorn, Big Lots’ President and CEO, said, “We are pleased to close this strategic transaction, which provides a framework to preserve thousands of jobs, maximize value and maintain the Big Lots brand. We are working closely with the Gordon Brothers and Variety Wholesalers teams on this transition. We are grateful for the continued hard work and dedication of Big Lots associates across the company.”
