Big Lots, a discount retailer for home essentials, has entered into a strategic sale agreement with Gordon Brothers Retail Partners, ensuring the transfer of its assets, including stores, distribution centers, and intellectual property, to various entities. Among these, Variety Wholesalers, operator of over 400 retail locations under banners such as Roses, Maxway, and Super Dollar, plans to acquire between 200 and 400 Big Lots stores and up to two distribution centers. As part of the transaction, Variety Wholesalers intends to retain Big Lots associates at the acquired facilities, along with essential corporate staff, to sustain the brand's operations and continuity.
Big Lots CEO Bruce Thorn emphasized that the agreement secures the brand’s legacy, protects jobs, and maximizes value for stakeholders. Rick Edwards, Gordon Brothers’ Head of North America Retail, praised the collaboration’s potential to maintain Big Lots’ reputation for bargains and a quality shopping experience. Variety Wholesalers CEO Lisa Seigies expressed enthusiasm about expanding the Big Lots footprint while supporting its core mission. This transaction aims to support the company’s ongoing operations and strategic direction.
