Discount chain Big Lots announced that it agreed to a sale transaction with an investment firm, allowing hundreds of stores to stay open by transferring its property to other companies.
The new deal with Gordon Brothers Retail Partners will facilitate the transfer of the brand, stores and distribution centers. One of those will be Variety Wholesalers, who will take over 200 and 400 Big Lots stores and up to two distribution centers. That could prevent the layoff of many Big Lots employees.
Additional details could not be released. It’s not known how this will affect the store in Indiana.
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