Up to a half of Big Lots stores look set to be saved after it agreed to a transaction with Gordon Brothers Retail Partner that enables the transfer of Big Lots assets.

Less than 10 days after Big Lots announced a purchase agreement had fallen through, the discount retailer has agreed to a new deal.

Variety Wholesalers owns more than 400 retail stores in the Southeastern and Mid-Atlantic states that operate under the names Roses, Roses Express, Maxway, Bill's Dollar Stores, Super 10, Super Dollar and Bargain Town. Variety Wholesalers stores only go as far north as Virginia.

Big Lots announced on Dec. 19 that it would be shutting down all of its remaining locations around the country after gradually closing stores throughout the year. The company file

Big Lots reached an agreement to sell its assets, including its intellectual property, to real estate consulting firm Gordon Brothers Retail Partners just before the end of 2024. The transaction would also include the sale of between 200 and 400 stores to Variety Wholesalers, Big Lots announced Dec. 27.

"The strategic sale to Gordon Brothers and the transfer to Variety Wholesalers is a favorable and significant achievement for Big Lots..."

Variety Wholesalers, based in Henderson, N.C., plans to operate stores under the Big Lots brand, may continue to employ current Big Lots employees.

Because of a sale brought about by global asset and real estate consulting firm Gordon Brothers, between 200 and 400 Big Lots stores will remain open.