Big Lots Will Keep Hundreds Of Stores Open Thanks To New Deal [Video]

Big Lots are being pulled back from the brink in a buyout that will save thousands of jobs and keep hundreds of stores open.

Videos by Wide Open Country

After filing for Chapter 11 bankruptcy, Big Lots has been saved, for now. Gordon Brothers Retail Partners have made a deal to sell off its distribution centers, stores, and intellectual property to retailers.

This will keep at least a few of the stores open, just after they announced their going-out-of-business sale. This came after a proposed purchase agreement with Nexus Capital Management. However, the new proposition is looking good for the outlet and may save many jobs and shopfronts.

Variety Wholesalers Amid Possible Big Lots New Owners

In the deal, brokered by Gordon Brothers Retail Partners, the Big Lotsstores will be sold off to multiple new owners. One of these is expected to be by Variety Wholesaler. They look to purchase between 200 and 400 stores from the company as well as two …