First Wave Of Big Lots Stores Set To Open, With 200 Sites Back By June

Come Thursday, Big Lots will be back, as discount retail group Variety Wholesalers stays true to its promise to reopen stores following the company’s September bankruptcy.

Further waves of openings mean the roll-out of revamped stores will come quick, with over 200 stores back in operation by June.

But the question is whether its new owner can find the magic formula, which eventually deserted the retailer, just a few months after it ran out of road.

The first locations to reopen their doors on April 10 include nine stores across six states as Variety Wholesalers brings its “proven model of value-driven retail” to these locations following the company’s acquisition of 219 Big Lots stores from Gordon Brothers Retail Partners.

Customers can expect remodeled stores, a large selection of closeout deals and new merchandise categories, including apparel for the family and electronics, according to Variety Wholesalers.

The first wave of locations are located in: Mount Sterling, Kentucky; Metairie, Lousiana; Tupelo, Mississippi; Pearl, Mississippi; Asheboro, North Carolina; Clarksville, Tennessee; Gallatin, Tennessee; Dickson, Tennessee; and Roanoke, Virginia.

Big Lots Store Openings

“We’re thrilled to bring the Big Lots! brand back to life by offering more deals than ever, lots of famous brands and a new apparel department for the entire family,” said Lisa Seigies, president and CEO of Variety Wholesalers of the announcement.

“We’re opening stores quickly so we can serve the community. We know the stores won’t be perfect to start, but each week we’ll add more new products as we build towards the grand opening celebration in the fall. Every time a customer visits Big Lots! we want them to find something new and exciting!”

Variety Wholesalers will reopen the remaining acquired locations in subsequent waves, the company said, with approximately 55 stores in the second wave opening on Thursday, May 1. The remaining stores will open through early June and lead up to a “grand opening celebration” that will take place across all stores this fall.

Variety Wholesalers’ acquisition of Big Lots stores represented a significant expansion for the company, as it looks to build its position as a leading U.S. discount retailer. It operates more than 400 stores across 18 states, in the southeast and mid-Atlantic of the U.S. under the Roses, Roses Express, Maxway, Bill’s Dollar Stores, Super 10, Super Dollar and Bargain Town fascias,

In addition to the initial nine locations, Variety Wholesalers plans to reopen Big Lots stores in North Carolina, Alabama, Florida, Georgia, Ohio, Michigan, Pennsylvania, South Carolina, and West Virginia, among other states, the company said.

Big Lots Turnaround

The turnaround comes after Big Lots previously agreed to sell “substantially all” of its stores and business operations to Nexus Capital Management.

The closeout retailer filed for Chapter 11 bankruptcy protection as part of the proposed deal to be acquired for around $760 million by the private equity firm, which was acting as the stalking horse bidder. However, that deal fell apart following creditor backlash, with several Big Lots vendors opposed the deal because it repaid lenders while leaving trade creditors with steep losses.

On the face of it, Big Lots is well placed to attract cash-strapped shoppers looking for bargains but its management blamed high inflation and interest rates on hitting the bottom line last time round and the economy is hardly in a more stable situation now.