If you’re confused about what’s going on with Big Lots, you’re definitely not alone. The discount retailer has been yo-yo-ing back and forth for several years about its closure plans. But here’s the latest: After being “saved” by liquidation firm Gordon Brothers Retail Partners in January, the plans suggested that between 500 and 600 of Big Lots’ remaining 870 locations would close. As for the remaining stores, they’re reportedly being remodeled, and these improved outposts will reopen in four waves, the first of which is set for April.
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It’s been a long road for Big Lots.
Big Lots first began closing stores in 2022, but things really took a turn for the worst this past September when they filed for bankruptcy. There was a brief glimmer of hope when Nexus Capital entered the picture to buy the company, but that deal quickly fell through.
Then, just before the end of 2024, Gordon Brothers Retail Partners came in with another offer to buy Big Lots, and this one stuck. The deal stipulated that Gordon Brothers would sell off hundreds of store leases and transfer the remaining Big Lots locations and company assets to Variety Wholesalers, Inc.
Many Big Lots locations are still closing.
At the end of January, Gordon Brothers released its Phase I list of 496 Big Lots locations set to close, with the majority in Texas (72), New York (49), and Florida (44). “The new-to-market stores are primarily located in shopping centers across 47 states and range in size from 18,963 to 54,933 square feet,” Gordon Brothers wrote on their website at the time.
A week later, the list expanded by 150 additional locations in Phase 2 of the plan. As Best Life reported, we counted 544 total locations set to close, though other reports vary.
Stores on the chopping block have already commenced going-out-of-business sales. A banner on Big Lots’ website reads, “All Stores Closing! Final Days! Save Now 50%-80-% Off Entire Store.” A previous restructuring website has been taken down.
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Remaining Big Lots stores are being remodeled and reopened in four phases.
As for the lucky Big Lots stores that aren’t closing, Variety Wholesalers confirmed to Fast Company that they will reopen some of the roughly 200 stores that they acquired. This will happen in four phases between April and June.
Variety’s vice president of sales and marketing, Jeff King, told Fast Company that nine southern locations are currently being remodeled. They will have soft openings on April 10 with “new categories of merchandise.” The locations are:
- Mount Sterling, Kentucky
- Metairie, Louisiana
- Tupelo, Mississippi
- Pearl, Mississippi
- Asheboro, North Carolina
- Clarksville, Tennessee
- Gallatin, Tennessee
- Dickson, Tennessee
- Roanoke, Virginia
