It's been a wild ride for Big Lots. After the retailer began closing stores in 2022, their future remained uncertain. But when they filed for bankruptcy this past September, it seemed the end was near—until Nexus Capital swooped in with a deal to bring them back from the brink. However, the deal fell through, and once again, it wasn't looking good. Earlier this month, though, the company got its Hail Mary when it closed a new deal to keep between 200 and 400 of its 901 remaining stores open. It was good news, but that means hundreds more stores will still close—and the list of those on the chopping block has now been made public.
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Liquidation firm Gordon Brothers Retail Partners just released all the Big Lots leases available for sale, amounting to 496 stores.
Texas has the most store leases for sale (72), followed by New York (49) and Florida (44).
"The new-to-market stores are primarily located in shopping centers across 47 states and range in size from 18,963 to 54,933 square feet," Gordon Brothers write on their website. "All offers for individual or multiple location purchases are due no later than January 24, 2025 and are subject to court approval."
In a press release from Jan. 14, Michael Burden, Gordon Brothers' co-head of North America real estate services, said, "This is a fantastic opportunity for expansion-minded retailers to grow their footprint by acquiring well-located stores with long-term, below-market rents. These spaces offer a seamless path to enhance their presence and serve new communities, making it an ideal time to capitalize on prime retail real estate."
To view all the locations up for sale, you can view this PDF.
As for the stores that will remain open, they'll be acquired by Variety Wholesalers, Inc. The company will continue to operate them under the Big Lots name.
A Big Lots corporate website states: "Variety Wholesalers is working to finalize and implement transition plans, including as they relate to the Company’s vendor relationships."
"In the meantime, the Company is continuing to conduct going out of business sales and is no longer purchasing goods, except for those deemed essential to support the wind down of the business," it notes.
Big Lots is just one of many nationwide retailers to announce store closures for 2025. Kohl's is shuttering 27 "underperforming" locations by April; Macy's is closing 66 stores early this year; and JOANN is closing at least six stores.
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