Some Big Lots Stores To Survive: What NJ Shoppers Should Know

NEW JERSEY — Little more than a week after beginning a going out of business sale, Big Lots has reached a deal to keep hundreds of its stores open — even as several New Jersey locations have already closed their doors.

The discount retailer, which declared bankruptcy in September, announced Friday it has agreed to a sale with asset liquidation firm Gordon Brothers Retail Partners that will transfer between 200 and 400 Big Lots stores to Variety Wholesalers Inc. Big Lots has about 900 stores nationwide.

Variety Wholesales owns more than 400 retail stores in Southeast and Mid-Atlantic states under the Roses, Roses Express, Maxway, Bill's Dollar Stores, Super 10, Super Dollar and Bargain Town names. The company intends to continue operating the acquired stores under the Big Lots banner. Variety Wholesales also is obtaining up to two distribution centers and intends to continue employing Big Lots workers and some corporate officials.

Big Lots had been closing certain stores as it went through bankruptcy proceedings and previously announced plans to shutter hundreds of stores, including at least seven in New Jersey. The company has also provided notice of 385 layoffs at several of its remaining Garden State stores, effective at the end of February. It is not immediately clear if any of them will remain open under this new sale.

"This sale agreement and transfer present the strongest opportunity to preserve jobs, maximize value for the estate and ensure continuity of the Big Lots brand," Big Lots President Bruce Thorn said in a statement. "We are grateful to our associates nationwide for their grit and resilience throughout this process."

Lisa Seigies, Variety Wholesalers' President and CEO, said, "We are excited to partner with Gordon Brothers to provide a path forward for the Big Lots brand and hundreds of its stores. We look forward to working with members of the Big Lots team to realize the exciting opportunities ahead."

The agreement is subject to U.S. Bankruptcy Court approval.

The company had more than 1,300 stores across the country in March, and has since winnowed that number down to 902.

The specific store locations Variety Wholesalers is acquiring has yet to be revealed. There are 16 Big Lots locations remaining in New Jersey, down from 27 locations listed on the company website in September.

Those locations are:

• Barnegat
• Beverly
• Brick
• Cape May
• Cape May Court House
• Clifton
• Dover
• Hamilton
• Lumberton
• Middletown
• Millville
• Sicklerville
• Somers Point
• South Plainfield
• Toms River
• West Deptford

According to a New Jersey WARN (Worker Adjustment and Retraining Notification) Act notice that the company posted in December, Big Lots is planning cuts at all 16 of these locations.

When contacted by Patch on Monday, the company declined to comment further.