Big Lots, Inc. Stock News

Big Lots continues to trickle back to life after a bankruptcy last year that was widely expected to lead to its demise.

Variety Wholesalers is looking to open a handful of Big Lots locations on Thursday in the first of “four waves of openings" it has planned for the discount retailer's stores it bought.

HENDERSON, N.C.--(BUSINESS WIRE)--Variety Wholesalers, a leading discount retailer known for its treasure hunt shopping experience, closeouts, and unbeatable bargains, today announced the first wave of openings for newly acquired Big Lots! locations, starting on April 10 with nine stores across six states. Variety Wholesalers brings their proven model of value-driven retail to these locations f...

Retailers have responded to a long period of inflation with a renewed emphasis on value over less-essential products, such as diamond rings.

Big Lots, a once-dominant player in the discount retail sector, faces an uncertain future following an acquisition by Gordon Brothers Retail Partners. The agreement, finalized Dec. 27, ensures hundreds of Big Lots stores will remain operational, as the assets of the bankrupt retailer are transferred to other entities, including Variety Wholesalers.

Up to a half of Big Lots stores look set to be saved after it agreed to a transaction with Gordon Brothers Retail Partner that enables the transfer of Big Lots assets.

US bankruptcy judge Kate Stickles rubber-stamped the sale at a court hearing in Wilmington, Delaware.

Big Lots has struck a deal to keep hundreds of stores from shuttering. The bankrupt discount retailer announced Friday (Dec. 27) that it had agreed to sell itself to Gordon Brothers Retail Partners, a capital markets company that will transfer Big Lots' stores, distribution centers and other assets to other retailers.