COLUMBUS, Ohio (ADAMS) – Big Lots is selling off its assets in an effort to keep the brand alive and preserve some jobs.
President and CEO Bruce Thorn announced a deal with Gordon Brothers Retail Partners over the weekend.
The new company will be taking over between 200 and 400 existing stores through its Variety Wholesalers arm, with plans to continue running them under the Big Lots name. Many of the existing store associates will be able to retain their positions and some Big Lots corporate employees will be asked to stay on as well. Leaders with the Columbus, Ohio-based retailer previously announced plans to end all operations.
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