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From Home Furnishing Business
Big Lots, Inc. Announces Successful Sale Agreement with Gordon Brothers
January 7,
2025 by Karen Parrish in Business Strategy, Industry 
Big Lots, Inc. announced that it has successfully closed its previously announced sale agreement with Gordon Brothers Retail Partners, LLC ("Gordon Brothers") 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 Chief Executive Officer, 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."
Kyle Shonak, Gordon Brothers' chief transaction officer, said, "We were proud to support Big Lots through the restructuring process to enable the Company's continued operation, and look forward to working with Variety Wholesalers to support Big Lots' go-forward footprint."
Lisa Seigies, Variety Wholesalers' President and CEO, said, "Variety is thrilled to officially welcome the Big Lots brand and looks forward to operating hundreds of Big Lots store locations. This strategic acquisition allows us to serve additional customers and communities. We plan to combine the best of Variety with the best of Big Lots and are excited about the possibilities ahead."
Court filings and other information related to the proceedings, including how to file a proof of claim, are available on a separate website administrated by the Company's claims agent, Kroll Restructuring Administration LLC, at https://cases.ra.kroll.com/biglots, by calling toll-free at (844) 217-1398 (or +1 (646) 809-2073 for calls originating outside of the U.S. or Canada).