Variety Wholesalers president and CEO Lisa Seigies discusses why the company was worth restoring on ‘The Claman Countdown.’
Nearly 80 more Big Lots stores are slated to reopen this week.
A total of 78 locations across nine states will resume operations on Thursday as Variety Wholesalers completes its fourth “wave” of reopening Big Lots stores that the company bought following the discount retailer’s recent bankruptcy.
The Big Lots stores reopening this week are located throughout Florida, Georgia, Kentucky, North Carolina, Ohio, Pennsylvania, South Carolina, Tennessee and Virginia, Variety Wholesalers said.
The Big Lots logo is displayed on shopping carts in front of a store on June 7, 2024, in Hercules, California. (Justin Sullivan / Getty Images)
Big Lots filed for Chapter 11 bankruptcy in the fall and subsequently reached a sale agreement with Gordon Brothers Retail Partners through which Variety Wholesale Partners bought 219 Big Lots stores.
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The discount retailer had entered bankruptcy to undergo a restructuring and facilitate a sale.
When it filed for bankruptcy, it said it was “adversely affected by recent macroeconomic factors such as high inflation and interest rates that are beyond its control” like other retailers, leading it to see a pullback in discretionary spending on home and seasonal products among its “core customers.”
A customer shops at a Big Lots store on June 7, 2024, in Hercules, California. (Justin Sullivan / Getty Images)
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Variety Wholesalers started reopening the Big Lots stores it bought in April.
The first “wave” of reopenings included nine locations open to customers again, with another 132 of the Big Lots locations now owned by Variety Wholesalers relaunching in two subsequent batches in May.
Variety Wholesalers is looking to hold a “grand opening celebration” in the fall with “exciting new deals” at all 219 of its locations, it said.
According to the company, its “phased reopening strategy” has been “met with an overwhelmingly positive customer response.”
The Big Lots storefront on June 7, 2024, in Hercules, California. (Justin Sullivan / Getty Images)
“This enthusiastic response reinforces our belief that taking Big Lots! back to the roots of what made it a huge success resonates with our customers,” Variety Wholesalers CEO Lisa Seigies said in a statement. “Providing great value will always be our core mission.”
The successful reopenings have “spurred Variety Wholesalers to explore options for acquiring additional Big Lots! locations,” the company said.
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