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.

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

Big Lots, which filed for bankruptcy in September, said that it reached an agreement with Gordon Brothers Retail Partners that would keep hundreds of stores open and save thousands of jobs. The Columbus,

Big Lots has been handed a lifeline by Gordon Brothers Retail Partners and Variety Wholesalers to save some 200 to 400 stores along with the jobs of the stores' employees.

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

Discount retail chain Big Lots received a last-minute lifeline Friday as it successfully closed a sale agreement with Gordon Brothers Retail Partners LLC that is expected to spare hundreds of

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 discount chain said on Friday that it will be sold to Gordon Brothers Retail Partners, a firm that specializes in distressed companies. Gordon Brothers will then transfer Big Lots’ stores, distribution centers and intellectual properties to other retailers, Big Lots said in a news release.