Big Lots Announces Additional Store Closures in Latest Retail Restructuring
Less than 15 months after being saved from bankruptcy, Big Lots is closing additional stores as part of an ongoing restructuring. Variety Wholesalers, which acquired the chain in early 2025 following a last-minute deal to save hundreds of locations, has closed or will close at least four stores across North Carolina, Pennsylvania, and South Carolina this year. The closures follow earlier store shutdowns during Big Lots' bankruptcy proceedings in 2024. After failing an acquisition by private equity firm Nexus Capital Management, the chain was nearly shuttered entirely before Gordon Brothers Retail Partners transferred over 200 stores to Variety Wholesalers for reopening in four waves across 15 states. Despite being rebranded and restocked under new ownership, Big Lots' footprint remains significantly reduced. The closures have sparked concern among employees and customers who had hoped the chain's revival would be more stable.
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Topics: bankruptcy corporate restructuring retail