Big Lots Gets a Lifeline; Could Remain Open In Alabama

Good news for Big Lots shoppers in Alabama! The beloved discount retailer is holding on, thanks to a new agreement that could save between 200 to 400 stores nationwide, potentially including locations right here in the state.

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After struggling with a failed rescue plan, Big Lots recently announced that it has struck a deal with Gordon Brothers Retail Partners.

If this deal, worth $496 million, gets the green light, it would mean the survival of the brand and thousands of jobs. "This sale agreement... presents the strongest opportunity to preserve jobs, maximize value for the estate, and ensure continuity of the Big Lots brand," said CEO Bruce Thorn.

Under the agreement, the stores would be taken over by Variety Wholesalers, which owns over 400 discount stores across the Southeast. This move could ensure that Big Lots remains a fixture in Alabama communities, avoiding a full liquidation.

While the deal still faces some objections in bankruptcy court, Big Lots made it clear that “there is no alternative to the sale other than a liquidation.” As the company continues to halt orders and start going-out-of-business sales, the clock is ticking—but with this new deal, there’s hope yet for your local Big Lots to keep its doors open.

For now, shoppers can breathe a little easier, knowing the lights might stay on a bit longer.

You can read the full story on Business Insider.