Big Lots strikes deal to keep 200 to 400 stores open

The close-out retailer, which filed for bankruptcy in September, said that it has agreed to a sale transaction with Gordon Brothers Retail Partner that enables the transfer of Big Lots assets — including stores, distribution centers and intellectual property — to other retailers and companies, including Variety Wholesalers, Inc.  

Under the terms of the deal, Variety Wholesalers, which operates more than 400 stores in the Southeast and Mid-Atlantic under the Roses, Roses Express, Maxway, Bill`s Dollar Stores, Super 10, Super Dollar and Bargain Town banners, intends to acquire between 200 and 400 Big Lots stores and up to two distribution centers. The company plans to operate the acquired stores under the Big Lots brand...