- Nine Big Lots stores will reopen on April 10 across six southern states, kicking off a multi-phase relaunch under new ownership.
- Variety Wholesalers acquired 219 Big Lots stores out of bankruptcy and plans to reopen all locations by early June.
- New store features include remodeled interiors and expanded merchandise such as family apparel and electronics.
- The comeback follows Big Lots’ 2024 bankruptcy, which led to the brand’s acquisition by Gordon Brothers and resale to Variety Wholesalers.
- Competitor Ollie’s Bargain Outlet has also been expanding, acquiring more than 60 former Big Lots leases this year.
First Stores Reopen This Week
Variety Wholesalers will reopen the first nine Big Lots stores on April 10, marking the beginning of the discount chain’s return after its Chapter 11 bankruptcy filing last fall, per Bisnow.
The initial wave includes locations in:
- Mount Sterling, Kentucky
- Metairie, Louisiana
- Tupelo and Pearl, Mississippi
- Asheboro, North Carolina
- Clarksville, Gallatin, and Dickson, Tennessee
- Roanoke, Virginia
The reopened stores will feature remodeled interiors and new merchandise categories like electronics and family apparel.
Phased Reopening Plan Through June
According to Variety Wholesalers, a second wave of 55 stores will reopen on May 1, with the remainder of the 219 locations rolling out in phases through early June.
Future reopenings will include stores in Alabama, Florida, Georgia, Michigan, Ohio, Pennsylvania, South Carolina, and West Virginia.
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Background: Bankruptcy and Acquisition
Big Lots filed for bankruptcy in September 2024, listing $1B to $10B in liabilities and securing $707M in commitments, including $35M in new financing.
A proposed $620M sale to Nexus Capital Management was announced but ultimately collapsed in December. Shortly after, Gordon Brothers Retail Partners purchased Big Lots’ assets and sold many store locations to Variety Wholesalers.
Competition Heats Up
Big Lots’ reentry into the market follows the rapid expansion of Ollie’s Bargain Outlet, which plans to open 75 new stores in 2025. Ollie’s acquired more than 60 former Big Lots locations, including 40 leases from Gordon Brothers in February.
Meanwhile, other major retailers have exited the market:
- Party City shuttered all 700+ stores and auctioned off 250 leases earlier this year.
- Joann announced plans to close its 800+ locations after filing for bankruptcy for the second time in under a year.
Despite these closures, the national retail vacancy rate remains low at 4.1%, showing continued demand for space.
What’s Next
The Big Lots brand is staging a major relaunch under new ownership, with a fall grand opening celebration planned after the full rollout. By modernizing its stores and broadening its merchandise mix, the company is aiming to reestablish itself in the discount retail sector amid intensifying competition.
