The new owner of Big Lots is relaunching the chain it rescued, starting to reopen the more than 200 stores it acquired as part of the retailer's bankruptcy.
Henderson, North Carolina-based Variety Wholesalers plans to kick off the first wave of openings of its newly purchased Big Lots locations Thursday with nine stores across six states. Variety Wholesalers — billing itself as a discounter "known for its treasure hunt shopping experience, closeouts, and unbeatable bargains" — purchased the leases of 219 Big Lots stores in the wake of the retailer's filing for Chapter 11 in September.
Variety Wholesalers said Friday that under its ownership the Big Lots stores have been remodeled and will offer a selection of closeout deals and new merchandise categories, including apparel for the family and electronics.
The company plans to reopen its remaining acquired Big Lots stores in subsequent waves, with roughly 55 locations in the second wave debuting May 1. The final group of stores will open through early June and lead up to a grand opening celebration across all stores this fall.
Big Lots was one of the few retailers that filed for bankruptcy last year and into this year that was able to avoid liquidation. A series of Chapter 11 filings and chains closing included 99 Cents Only, Conn's HomePlus, Joann and Party City. In the case of Big Lots, it shuttered all its remaining stores after Nexus Capital backed out of a deal to purchase it.
But Gordon Brothers stepped up, acquiring Big Lots assets and striking a deal in December for Variety Wholesalers to acquire from 200 to 400 of the chain's leases. In the Big Lots Chapter 11 and other bankruptcies, retailers will acquire store leases to open under their own banners. But Variety Wholesalers will operate Big Lots stores under their old moniker, saving the chain from extinction. In January, Gordon Brothers put the remaining 500 Big Lots store leases up for sale.
“We’re opening stores quickly so we can serve the community," Lisa Seigies, Variety Wholesalers president and CEO, said in a statement. "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.”
Variety Wholesalers’ acquisition of the Big Lots stores is an expansion for the company, an operator of more than 400 stores across 18 states under the Roses Discount Stores, Roses Express and Maxway names.
The Big Lot locations opening next week are:
Kentucky
1342 Indian Mound Drive, Mount Sterling.
Louisiana
755 Veterans Memorial Blvd., Metairie.
Mississippi
2605 W. Main St., Tupelo.
5778 Highway 80 E., Pearl.
North Carolina
1432 E. Dixie Drive, Asheboro.
Tennessee
1041 S. Riverside Drive, Clarksville.
744 Nashville Pike, Gallatin.
220 Dickson Plaza Drive, Dickson.
Virginia
2911 Hershberger Road NW, Roanoke.
In addition to the initial nine locations, Variety Wholesalers plans to reopen Big Lots stores in Alabama, Florida, Georgia, Michigan, North Carolina, Ohio, Pennsylvania, South Carolina and West Virginia, as well as other states.