Variety Wholesalers reopens nearly 80 Big Lots stores after bankruptcy

In the United States, approximately 78 Big Lots locations began reopening on Thursday across nine states, marking the latest phase of revitalization for the discount retailer following its bankruptcy filing. The company experienced financial difficulties due to macroeconomic pressures such as high inflation and rising interest rates, which significantly impacted consumer spending. This resulted in Big Lots filing for Chapter 11 bankruptcy in the fall, a move aimed at restructuring its operations and facilitating a sale. Following the bankruptcy, Variety Wholesalers reached an agreement with Gordon Brothers Retail Partners, allowing them to purchase 219 Big Lots stores. The reopening initiative, which started in April, has been implemented in waves, allowing the company to carefully reintroduce stores to the market and assess customer response. These reopenings span states including Florida, Georgia, Kentucky, North Carolina, Ohio, Pennsylvania, South Carolina, Tennessee, and Virginia. The phased reopening strategy has already shown positive customer reception, according to Variety Wholesalers CEO Lisa Seigies, who noted that the initiative resonates with the community and underscores their commitment to providing great value. The first wave of store openings included nine locations, followed by additional batches in May, illustrating a methodical approach to regaining market share and customer trust. In light of the successful reopening of existing locations, Variety Wholesalers is considering acquiring additional Big Lots stores, thereby expanding their retail presence. A grand opening celebration is planned for the fall, which aims to attract customers with exciting new deals at all 219 locations now under Variety Wholesalers' management. This strategic transformation not only highlights a revival for Big Lots but also serves as a lesson for other retailers facing similar economic challenges.