Big Lots Bankruptcy: Retail Giant Likely To Go Extinct In Mass.

MASSACHUSETTS - The company helping Big Lots through its ongoing bankruptcy proceedings is selling the leases of over 460 stores across the U.S., including all 17 of the discount retailer chain's Massachusetts locations.

The sale is almost certain confirmation that the stores will close.

In an online listing, Gordon Brothers Retail Partners said the stores are mainly in shopping centers across 47 states and range from 18,962 to 54,933 square feet in size. Bids will be subject to U.S. District Bankruptcy Court approval.

Last month Big Lots announced that its assets would be transferred to Variety Wholesalers Inc., which operates over 400 discount stores under various names across the U.S.

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Variety Wholesalers plans to keep around 200 to 400 Big Lots locations open, but that's a small percentage of the near-1,300 stores the chain had as of last March.

The leases are for sale in the following locations across the Commonwealth:

• Attleboro
• Auburn
• Billerica
• Fairhaven
• Fitchburg
• Franklin
• Gardner
• Lynn
• Methuen
• Milford
• Pittsfield
• Plymouth
• Raynham
• Revere
• Springfield
• Swansea
• Webster

“This is a fantastic opportunity for expansion-minded retailers to grow their footprint by acquiring well-located stores with long-term, below-market rents,” Michael Burden, Gordon Brothers’ co-head of North America real estate services, said in a news release.

“These spaces offer a seamless path to enhance their presence and serve new communities, making it an ideal time to capitalize on prime retail real estate.”