After facing serious financial troubles and nearly shutting down completely, Big Lots is staging a big comeback.
This week, the popular discount retailer is set to reopen 78 stores across several states, marking a major step in its revival journey.
It’s been months since Big Lots narrowly avoided bankruptcy, and now shoppers in various parts of the country will once again see those familiar signs.
How Big Lots Was Saved from the Brink of Bankruptcy
The turnaround started last December when Big Lots secured a last-minute rescue deal with investment firm Gordon Brothers and Variety Wholesalers, a company known for running discount chains like Roses and Maxway.
Under this deal, Gordon Brothers took over Big Lots, then passed between 200 and 400 stores to Variety Wholesalers to operate.
Variety Wholesalers is now responsible for reopening and running the stores that were saved, focusing on nine states in the Southeast and Mid-Atlantic regions.
Stores Opening Soon Across Nine States
The newly reopened Big Lots locations will be spread across Florida, Georgia, Kentucky, North Carolina, Ohio, Pennsylvania, South Carolina, Tennessee, and Virginia.
Variety Wholesalers shared their excitement about the openings, saying, “We’re thrilled to bring back Big Lots to 78 more communities starting June 5.”
The company also noted that customer feedback from earlier soft openings has been overwhelmingly positive.
To celebrate, they plan a grand reopening event this fall with plenty of special deals for shoppers.
Returning to Big Lots’ Roots to Win Customers Back
Variety Wholesalers’ CEO Lisa Seigies explained that the key to success is going back to what made Big Lots popular in the first place — offering great value.
She said, “This strong customer response shows that sticking to our core mission of delivering real bargains really resonates.”
Big Lots’ Long Struggle Before Bankruptcy
Big Lots hadn’t been doing well for over a decade, with mounting financial issues leading to a bankruptcy filing last year.
In the summer before filing, shoppers started seeing “closing” signs at roughly 315 stores across several states.
This number increased to about 500 by fall, with liquidation sales at all locations.
Despite these efforts, Big Lots closed about 555 stores by November and announced plans to go out of business the following month — until the rescue deal changed everything.
Other Retailers and the Future of Big Lots Locations
Besides Variety Wholesalers, other retailers such as Trader Joe’s, Ollie’s Bargain Outlet, and Ocean State Job Lot have purchased some Big Lots locations.
Variety Wholesalers is even exploring acquiring more stores but hasn’t yet said whether they’ll keep the Big Lots name on any new locations.
This isn’t unusual, as several brands lose their original names after similar deals.
For example, Hudson’s Bay recently sold stores to a Canadian mall owner who plans to launch a new concept without the Hudson’s Bay brand.
The Retail Landscape: Winners and Losers
Sadly, not all retailers were so lucky. Chains like Joann Fabrics and Crafts, Forever21, and Party City have all permanently shut down this year despite efforts to stay afloat.
Where the New Big Lots Stores Are Opening
Here’s a glimpse of some of the addresses where Big Lots stores will soon reopen:
Florida: Milton, Spring Hill, St. Cloud, Brandon, Ruskin, North Ft. Myers, Fort Myers
Georgia: LaGrange, Covington, Statesboro
Kentucky: Bowling Green
North Carolina: Locations in Weaverville, Franklin, Waynesville, Spindale, Murphy, Morganton, Salisbury, Concord, Albemarle, Kannapolis, High Point, Fuquay Varina, Sanford, Aberdeen, Laurinburg, New Bern, Lumberton, Jacksonville, Morehead City, Wilmington, Shallotte
Ohio: Mentor, Cleveland, Akron, Cuyahoga Falls, Barberton, Canton, Harrison, Cincinnati, Marietta, Wheelersburg, Gallipolis, South Point
Pennsylvania: Rochester, Pittsburgh, Indiana, Washington, Greensburg, Johnstown, Ephrata, Fairless Hills, York, Hanover
South Carolina: Lancaster, Columbia, Conway, North Myrtle Beach, Myrtle Beach, Moncks Corner, Goose Creek, Summerville, Beaufort
Tennessee: Cookeville, Columbia, Kingsport, Chattanooga, Rockwood
Virginia: Richlands, Vinton, Williamsburg, Hampton, Norfolk, Chesapeake