Big Lots was purchased by Gordon Brothers Retail Partners, a global asset expert firm, in early 2025. Gordon Brothers facilitated the going concern sale of Big Lots, preserving the brand and keeping hundreds of stores operational
. Following the acquisition, Gordon Brothers arranged for Variety Wholesalers, a privately held retail operator, to acquire between 200 and 400 Big Lots stores along with up to two distribution centers. Variety Wholesalers plans to operate these stores under the Big Lots brand and may retain Big Lots employees at the store and distribution center levels
. Variety Wholesalers, which owns other retail brands such as Roses, Roses Express, and Maxway, has since begun reopening Big Lots stores under its new ownership, having purchased 219 locations as of April 2025
. Additionally, Ollie's Bargain Outlet acquired leases for 40 Big Lots stores from Gordon Brothers as part of the bankruptcy and asset sale process
. In summary:
- Gordon Brothers Retail Partners bought Big Lots in bankruptcy court in early 2025
- Variety Wholesalers acquired 200-400 Big Lots stores and distribution centers from Gordon Brothers and operates them under the Big Lots name
- Ollie's Bargain Outlet acquired leases for 40 Big Lots stores from Gordon Brothers
