Big Lots Bankruptcy: This RI Store Likely Doomed

WARWICK, RI — The company assisting Big Lots through its bankruptcy proceedings is selling the leases of more than 460 stores across the country, including the discount retailer chain's only Rhode Island location.

The lease sale is a near-certain sign that the stores are closing.

In an online listing, Gordon Brothers Retail Partners stated the stores are primarily located in shopping centers across 47 states and range in size from 18,963 to 54,933 square feet. Bids are subject to U.S. District Bankruptcy Court approval.

Big Lots last month announced that its assets would be transferred to Variety Wholesalers Inc., which operates more than 400 discount stores under various names across the country.

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

In Rhode Island, the Warwick store's lease, located at 2485 Warwick Ave., is listed for sale.

"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."

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