150 More Locations Up for Sale — Best Life

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150 More Locations Up for Sale — Best Life

The future of Big Lots remains uncertain for devoted employees and loyal customers of the discount retailer, once popular for selling furniture, home decor, mattresses, tech, and more at steep discounts.

After filing for bankruptcy in September 2024 then being dropped from a deal with Nexus Capital, Big Lots has been “saved” by liquidation firm Gordon Brothers Retail Partners, which has agreed to transfer the company’s assets to Variety Wholesalers, Inc. and acquire between 200 to 400 of Big Lots’ 870 remaining locations.

Since the deal, the question has been: Which Big Lots locations will remain open, and which will close?

Big Lots asked in its bankruptcy filing to have until April 7 to choose which stores will carry on. However, Gordon Brothers recently put a slew of locations up for sale, suggesting they were on the fast track to closing. And now, that list just got longer.

RELATED: 11 Secrets Big Lots Doesn’t Want You to Know

More Big Lots Stores Added to Lease Sale List

On January 14, Gordon Brothers released its “Phase 1” list of Big Lots leases up for sale. It included hundreds of locations nationwide, with the most leases in Texas (72), New York (49) and Florida (44).
“The new-to-market stores are primarily located in shopping centers across 47 states and range in size from 18,963 to 54,933 square feet,” Gordon Brothers wrote on their website.
“This is a fantastic opportunity for expansion-minded retailers to grow their footprint,” Michael Burden, Gordon Brothers’ co-head of North America real estate services, said at the time.
Now, Gordon Brothers’ list of Big Lots leases has expanded by 150 locations. The “Phase 2” plans highlight all of the new additions by their specific street addresses. These include Big Lots stores in the following states:
  • Indiana
  • Kentucky
  • Louisiana
  • Maryland
  • Michigan
  • Missouri
  • Mississippi
  • North Carolina
  • Ohio
  • Oklahoma
  • Pennsylvania
  • Rhode Island
  • South Carolina
  • Tennessee
  • Texas
  • Virginia
  • West Virginia

Kentucky, Ohio, Pennsylvania, and Tennessee appear to have the most new stores up for sale. Meaning? These Big Lots locations will likely close when sold to new owners.

What’s Next for Big Lots?

Obviously, Gordon Brothers’ “Phase 1” and “2” plans suggest that, while some Big Lots stores may be saved, the retailer is heading into a significant downsizing period by closing over 500 stores across the U.S. (We counted 544 total locations in the “Phase 2” version, though other reports vary.)

What’s left will be operated by Variety Wholesalers, Inc., which will include two distribution centers.

RELATED: 7 Best Things to Buy at Big Lots, Experts Say

Big Lots’ corporate website states, “Variety Wholesalers is working to finalize and implement transition plans, including as they relate to the Company’s vendor relationships. In the meantime, the Company is continuing to conduct going out of business sales and is no longer purchasing goods, except for those deemed essential to support the wind down of the business.”

On Big Lots’ retail site, a large banner still reads: “All stores closing: Now save up to 40% off entire store.” The product listings are still live but have been set to in-store only.

Those interested in leasing a Big Lots location from the updated list have until February 10, 2025 to submit an offer—an extension from the previously announced deadline of January 24.

Big Lots is among many other nationwide retailers reducing their U.S. footprint this year, including Kohl’s, Macy’s, and JOANN.

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