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Big Lots Secures Deal to Keep Up to 400 Stores Open

share-iconTuesday, December 31 comment-icon3 weeks ago 7 views
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businessinsiderBUSINESSINSIDER
Big Lots Secures Deal to Keep Up to 400 Stores Open

Credited from: BUSINESSINSIDER

  • Big Lots announced a new agreement with Gordon Brothers Retail Partners to preserve at least 200 stores across the U.S.
  • The agreement has the potential to expand, allowing 400 locations to remain operational.
  • If approved, remaining stores will be transferred to Variety Wholesalers, which operates over 400 discount stores.
  • CEO Bruce Thorn emphasized that this deal offers the best chance to save jobs and maintain the Big Lots brand.
  • The $496 million deal comes after the failure of a previous plan with Nexus Capital Management, aiming to avoid liquidation.

For more information, visit the original article here.

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