Big Lots Stores Close Again Under Variety Wholesalers Ownership

Discount retailer Big Lots is once again closing stores, with Variety Wholesalers, the company that acquired hundreds of locations less than 15 months ago, shuttering or planning to close a small number of Big Lots stores across three states in 2025. This latest development marks a significant twist for the discount retail chain, which narrowly avoided permanent closure following a Chapter 11 bankruptcy filing in 2024. One Big Lots location in Asheboro, North Carolina, has reportedly closed recently, and another in Lancaster County, Pennsylvania, closed this week. Furthermore, two additional stores in South Carolina are slated for closure later this year, according to employee confirmations obtained by phone. News of these impending closures began circulating on social media earlier this month, with some customers expressing surprise at the sudden announcements. Representatives for Variety Wholesalers did not immediately respond to requests for comment regarding the specific reasons for these closures or the total number of affected locations. As of this week, Variety Wholesalers' store locator listed 217 Big Lots locations. The Big Lots brand has experienced a tumultuous period in recent years. The company, recognized for its large storefronts and deals on overstocked merchandise, faced significant challenges due to high inflation and decreased consumer foot traffic in the post-COVID-19 era. In early 2024, Big Lots sought Chapter 11 bankruptcy protection and initially entered into an agreement to be acquired by private equity firm Nexus Capital Management. However, this acquisition deal ultimately fell through. Following the collapse of the Nexus deal, Big Lots announced plans to cease all operations and close every store. However, before the end of 2024, a last-minute agreement was reached with Gordon Brothers Retail Partners, the liquidator managing the store closings. This deal involved the transfer of at least 200 Big Lots locations to Variety Wholesalers, a North Carolina-based retail company that also owns the discount chain Roses. This acquisition by Variety Wholesalers provided a reprieve for hundreds of stores, allowing them to continue operating under new ownership. The current closures suggest that Variety Wholesalers is re-evaluating its portfolio of acquired Big Lots stores, potentially identifying underperforming locations or making strategic adjustments to its retail footprint. The long-term viability of the remaining Big Lots stores under Variety Wholesalers' management remains a key point of interest for consumers and industry observers alike, given the brand's recent history of financial instability and strategic shifts.