Big Lots has announced the transfer of approximately 200 of its leases to Variety Wholesalers following its bankruptcy filing and deal with Gordon Brothers. This transfer, primarily affecting stores in the South and Midwest, aims to salvage the retailer’s operations and potentially save thousands of jobs. Although Variety's exact plans are unclear, they have indicated a desire to run these locations as Big Lots stores. Stakeholders are awaiting a court decision on the lease transfers, with a deadline for objections by February 18 and final determinations expected by April 7.
Some 200 Big Lots leases will be transferred to Variety Wholesalers as part of Big Lots' restructuring under Gordon Brothers in hopes of revitalizing the brand.
Gordon Brothers confirmed that Variety intends to continue operating the leases as Big Lots stores, providing job security for many employees amid ongoing uncertainty.
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