HENDERSON, N.C. — Variety Wholesalers Inc. has announced plans to acquire between 200 and 400 Big Lots stores in the midst of the latter retailer’s bankruptcy proceedings. North Carolina-based Variety Wholesalers will continue to operate the stores under the Big Lots brand. Additionally, the company plans to acquire up to two Big Lots distribution centers. According to Reuters, a bankruptcy judge approved the deal at a court hearing in Delaware.
Variety Wholesalers will acquire the stores through the previously announced sales agreement between Big Lots and Boston-based Gordon Brothers Retail Partners. Gordon Brothers has entered into a sale transaction with Big Lots that will enable the transfer of assets — including stores, distribution centers and intellectual property — to other retailers and companies, including Variety Wholesalers.
According to a press release issued by Big Lots, Variety Wholesalers may employ Big Lots associates at the stores and distribution centers in question, as well as certain corporate associates. A&G Real Estate Partners, a New York-based company that consults retailers looking to right-size their physical footprint, is serving as real estate advisor to Big Lots.
“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,” says Bruce Thorn, president and CEO of Big Lots.
Big Lots first filed for Chapter 11 bankruptcy protection in September 2024, entering into a sale agreement with Nexus Capital Management. In December, the company announced that the sale would not be completed.
Variety Wholesalers owns and operates roughly 400 retail stores in the Southeast and Mid-Atlantic regions under the Roses, Roses Express, Maxway, Bill’s Dollar Stores, Super 10, Super Dollar and Bargain Town banners.
“Variety is thrilled to officially welcome the Big Lots brand and looks forward to operating hundreds of Big Lots store locations,” says Lisa Seigies, president and CEO of Variety Wholesalers. “This strategic acquisition allows us to serve additional customers and communities.”
— Hayden Spiess