After announcing closure of all stores, Columbus-based chain strikes deal that could save hundreds of locations & employees

Last week, a Columbus-based chain announced they’d be closing all stores nationwide, as well as laying off 500 workers and the CEO at their Columbus headquarters.  

Big Lots filed for bankruptcy back in September, but all was still looking up until an acquisition by private-equity firm Nexus Capital Management fell through. On Thursday, December 19, the company filed a WARN Notice in Columbus, OH, announcing their plan to lay off 555 employees before April at their corporate headquarters, located at 4900 E. Dublin Granville Rd. This included CEO Bruce Thorn, and all Big Lots stores nationwide were expected to close.

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But Big Lots may have gotten lucky. 

The national retail chain announced via a news release that they have agreed to a sale transaction with the investment firm Gordon Brothers Retail Partners, allowing hundreds of stores to stay open by transferring its property to other retailers and companies.

Variety Wholesalers will acquire between 200 to 400 Big Lots stores and up to two distribution centers.

This new deal could prevent thousands of its employees from being laid off. It’s unclear just how many workers and locations could remain in this new deal though.

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