US Bankruptcy Judge Kate Stickles approved a last-minute sale of 200 to 400 stores from Big Lots to Variety Wholesalers, preserving around 5,000 to 10,000 jobs. The deal was reached after an initial bankruptcy plan fell apart, and the new owners will take on the stores’ distribution centers and intellectual property. However, financial terms were not disclosed, leaving some vendors with unpaid debts totaling $250 million.
Source: https://nypost.com/2025/01/01/business/big-lots-gets-green-light-for-last-minute-sale-of-200-to-400-stores