While the many companies permanently shut up their stores around the US, Big Lots is doubling down and opening tons of new ones.
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Across 12 states, Big Lots intends to open up 60 stores. They have announced that on May 1st, they will be bringing back their shop fronts. This comes only a month after they opened up nine new locations. They are only continuing with their mass reopenings too, with a further 70 planned on my 15th.
Don't call it a comeback, they've been here for years. Despite fearing for their future not that long ago, a new buyer has pulled them out of disaster. A company named Gordon Brothers Retail Partners bought them. This allowed Variety Wholesalers to acquire 219 stores in the deal. They also purchased 2 distribution centers.
The buyout has breathed new life into the store, and will give it at least a few more years in the economic downturn. "We're thrilled to bring the Big Lots! brand back to life by offering more deals than ever, lots of famous brands and a new apparel department for the entire family," Variety Wholesalers CEO said.
While The Rest Are Shutting Down, Big Lots is Setting Up
With the changing and starved landscape of the economy in the US, many companies are struggling. It seems that every week, another giant is filing for bankruptcy. For many it is their dell knoll, and we will never see them again. But, for a company like Big Lots, someone obviously saw the benefit of a buyout and opening stores again.
The Big Lots store reopenings are happening across 12 states. These are Alabama, Georgia, Indiana, Kentucky, Michigan, North Carolina, Ohio, Pennsylvania, South Carolina, Tennessee, Virginia and West Virginia.
It's a positive sign to see that at least one retailer sees a future in shop fronts. With such intense competition from giants like Walmart and Amazon, even somewhere like Big Lots is under pressure. We will have to wait and see if their gamble pays off. But, for now, they can remain open and employing the US public.
