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Big Lots secures deal to save hundreds of stores. What we know now

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3 days ago

December 30, 2024

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Big Lots secures deal to save hundreds of stores. What we know now

Big Lots lovers are in luck as a deal with both a liquidation firm and wholesaler intends to save hundreds of stores throughout the U.S., the company announced Friday.

A transaction with Boston-based asset liquidation firm Gordon Brothers Retail Partners will result in the transfer of 200 to 400 Big Lots stores to Variety Wholesalers, Inc., the news release said. It is not clear, at this point, what stores would remain open.

“The strategic sale to Gordon Brothers and the transfer to Variety Wholesalers is a favorable and significant achievement for Big Lots that reflects the tireless work and collective effort of our team,” Big Lots CEO Bruce Thorn said in a statement. “This sale agreement and transfer present the strongest opportunity to preserve jobs, maximize value for the estate and ensure continuity of the Big Lots brand. We are grateful to our associates nationwide for their grit and resilience throughout this process.”

Here’s what to know.

What is Variety Wholesalers, Inc.?

Variety Wholesalers of Hendersonville, North Carolina owns more than 400 stores in the Mid-Atlantic and Southeast; among the chains it operates are Roses, Roses Express, Maxway, Bill’s Dollar Stores, and Bargain Town, USA TODAY reported.

Variety Wholesalers plans to operate the stores acquired in the deal under the Big Lots brand and may employ current Big Lots employees at the stores and the one or two of Big Lots distribution centers it plans to acquire, according to the companies’ news release.

The transaction includes the transfer of Big Lots assets, including stores, distribution centers, and intellectual property, the companies said. The agreement is subject to approval by the bankruptcy court.

How did Big Lots get to this point?

Big Lots recently announced plans to close all of its stores after a potential sale to Nexus Capital Management fell through.

Prior to that, Big Lots had been closing some stores as it went through the bankruptcy process, which was initiated in September, announcing plans to close more than more than 340 stores. The company had more than 1,300 stores across the U.S. as of March 2024.

Which NY locations have already closed or announced their closure?

Bay Shore: 1851 Sunrise Hwy. in Bay Shore
Binghamton: 10 Glenwood Ave. in Binghamton
Buffalo – Linden Corners: 2276 Delaware Ave. in Buffalo
Buffalo – Sloan: 698 S. Ogden St. in Buffalo
Canandaigua: 4406 State Route 5 & 20, Suite 129, in Canandaigua
Carle Place: 260 Voice Rd. in Carle Place, Long Island
Centereach: 231 Centereach Mall in Centereach, Long Island
Geneva: 785 Canandaigua Rd. in Geneva
Irondequoit: 525 Titus Ave. Ste 15 in Irondequoit
Ithaca: 2309 N Triphammer Road in Ithaca
Middletown: 400 Route 211 E Ste 28 in Middletown
New Hartford: 4645 Commercial Drive in New Hartford, near Utica
Plattsburgh: 316 Cornelia St. in Plattsburgh
Poughkeepsie: 43 Burnett Blvd. in Poughkeepsie
Queensbury: 751 Upper Glen St., Suite 2, in Queensbury, north of Albany
Troy: 120 Hoosick St., Suite 12, in Troy

Which NY locations are still open?

According to Big Lots’ website, 49 stores in New York are still open as of Dec. 30.

4879 State Highway 30, Amsterdam
360 Grant Ave Rd Ste 2, Auburn
6515 Brockport Spencerport Rd., Brockport
4101 Transit Rd., Buffalo
12177 Route 16, Chaffee
54 Crossing Blvd., Clifton Park
2221 Main St., Collins
1255 Sunrise Hwy., Copiague
3662 State Route 281 Ste 1, Cortland
10 Village Plaza, Dansville
5165 Broadway, Depew
1170 Central Ave., Dunkirk
825 Fairport Rd., East Rochester
801 Lake St., Elmira
70 Quaker St., Granville
1251 State Route 29, Greenwich
5999 S Park Ave., Hamburg
102 Utica St., Hamilton
275 S. Broadway, Hicksville
5755 Sunrise Hwy., Holbrook
21 S Main St., Jamestown
1375 Ulster Ave., Kingston
8015 Oswego Rd., Liverpool
5987 S Transit Rd., Lockport
228 W Main St. Ste 14, Malone
138 Harte Haven Plaza, Massena
2413 Brewerton Rd., Mattydale
39 North Plank Rd., Newburgh
2429 Military Rd., Niagara Falls
502 N Union St., Olean
2132 Glenwood Shopping Plaza, Oneida
1250 State Route 104, Ontario
140 State Route 104 Ste J, Oswego
98 Victory Hwy., Painted Post
38 Dutch Town Plaza, Palatine Bridge
200 Market St., Potsdam
3779 Rome Rd., Pulaski
1100 Jefferson Rd., Henrietta
3170 Chili Ave Unit #5, Rochester
3660 Dewey Ave., Greece
1146 Erie Blvd W., Rome
330 Route 212, Saugerties
750 Young St., Tonawanda
350 Leland Ave., Utica
150 Vestal Pkwy W., Vestal
1574 Route 9, Wappingers Falls
1125 Arsenal St., Watertown
501 W Montauk Hwy., West Babylon
1980 Ridge Rd., West Seneca

Contributing: USA Today Network

Emily Barnes reports on consumer-related issues for the USA TODAY Network’s New York Connect Team, focusing on scam and recall-related topics. Follow her on Twitter and Instagram @byemilybarnes. Get in touch at ebarnes@gannett.com.