Big Lots is making its return to the retail arena after the closeout retailer declared bankruptcy and subsequently closed all its stores.
Variety Wholesalers announced the first wave of openings for its newly acquired Big Lots locations, starting on 10 April with nine stores across six states.
Variety, which operates more than 400 discount stores in 18 states, finalised its acquisition of more than 200 Big Lots stores in January. The agreement came as the bankrupt chain was holding store closing sales at its approximate 950 locations nationwide in the wake of the collapse of its deal to be acquired by Nexus Capital Management.
Variety will reopen the remaining acquired Big Lots locations in subsequent phases, with approximately 55 stores in the second wave opening on 1 May. The remaining stores will open through early June, leading up to a grand opening celebration that will take place across all stores this fall.
Variety’s acquisition of Big Lots! stores marks a significant expansion for the company, further solidifying its position as a leading discount retailer, the company said. Variety’s portfolio includes the Roses, Roses Express and Maxway banners.
“We’re thrilled to bring the Big Lots! brand back to life by offering more deals than ever, lots of famous brands and a new apparel department for the entire family,” said Lisa Seigies, President and CEO of Variety Wholesalers. “We’re opening stores quickly so we can serve the community. We know the stores won’t be perfect to start, but each week we’ll add more new products as we build towards the grand opening celebration in the fall.”
