Bankrupt Big Lots Strikes Sales Deal, Preserves Brand Name

People working under Big Lots may continue to be employed at the acquired stores.

A sign for Big Lots is displayed outside its store in Austin, Texas, on Sept. 9, 2024. Brandon Bell/Getty Images

Big Lots finalized a deal that preserved the brand name and prevented the discount retail chain from entirely going under.

Ohio-based Big Lots announced it filed for Chapter 11 bankruptcy earlier this year, citing economic pressures. The company tried to sell its business to Nexus Capital Management but failed to strike a deal. On Dec. 27, Big Lots announced a sales transaction with Gordon Brothers Retail Partners.