Dive Brief:
- Discount retail conglomerate Variety Wholesalers is bringing Big Lots back to physical retail. The company, which acquired 219 Big Lots locations out of bankruptcy, is opening nine Big Lots stores across six states this week, according to a Friday press release.
- Starting Thursday, the company will open locations in Kentucky, Louisiana, Mississippi, North Carolina, Tennessee and Virginia, per the press release. It’s the first of four waves of openings, and a grand opening celebration at all locations is planned for the fall.
- A second wave of 55 stores will open on May 1, with remaining stores opening through early June. Shoppers will find remodeled stores, closeout deals and new merchandise categories, including electronics and apparel.
Dive Insight:
The resurrection of Big Lots stores follows the discount chain’s Chapter 11 bankruptcy filing last fall.
In the months following its September filing, Big Lots began going-out-of-business sales across all of its stores after a deal to sell itself to private equity firm Nexus Capital Management fell through. The retailer also laid off over 500 corporate staffers at its headquarters in Columbus, Ohio.
First wave of Big Lots location openings
| State | City | Address |
|---|---|---|
| Kentucky | Mount Sterling | 1342 Indian Mound Dr. |
| Louisiana | Metairie | 755 Veterans Memorial Blvd. |
| Mississippi | Pearl | 5778 Hwy 80 E |
| Mississippi | Tupelo | 2605 W Main St. |
| North Carolina | Asheboro | 1432 E Dixie Dr. |
| Tennessee | Clarksville | 1041 S Riverside Dr. |
| Tennessee | Dickson | 220 Dickson Plaza Dr. |
| Tennessee | Gallatin | 744 Nashville Pike |
| Virginia | Roanoke | 2911 Hershberger Rd. NW |
Source: Big Lots
At the start of the year, Big Lots announced that it closed a sale agreement with Gordon Brothers Retail Partners that would enable Variety Wholesalers to acquire hundreds of stores and up to two distribution centers under the Big Lots brand.
In its latest announcement, Variety Wholesalers said it ultimately bought 219 Big Lots locations. Big Lots now joins Variety Wholesalers’ portfolio of retailers, including Roses, Roses Express and Maxway.
“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,” Lisa Seigies, president and CEO of Variety Wholesalers, said in a statement.