The retail landscape in the United States has been marked by uncertainty in recent years. Persistent inflation, rising prices, and declining consumption have created a crisis for several major retail chains. Some have disappeared, while others are struggling to survive in an increasingly challenging environment. In this context, Big Lots! seemed destined to disappear after a severe financial blow.
However, the discount store chain has surprised the entire country with an unexpected decision. After filing for bankruptcy in 2023 and closing hundreds of stores, the brand achieved an unbelievable comeback. This recovery, which seemed impossible, has happened thanks to a business agreement that has marked a turning point in its recent history.
From bankruptcy to rebirth, this is how Big Lots!'s situation has changed in the United States
In 2023, Big Lots! filed for Chapter 11 bankruptcy due to declining consumption and rising operating costs. By the end of 2024, the company had about 1,400 stores, but the future didn't look promising. An attempt to sell to Nexus Capital Management failed, which led to the closure of more than 500 stores.
Despite pessimistic forecasts, Big Lots! found a new opportunity at the beginning of 2024. Gordon Brothers Retail Partners negotiated a deal that allowed Variety Wholesalers to acquire between 200 and 400 stores and two distribution centers. This strategic move allowed the brand to keep operating and start reopening its doors.
In April 2024, Big Lots! began to show signs of recovery. Several locations reopened under new management, and the public's response was surprisingly positive. This led to a new phase of reopenings, consolidating the brand's return stronger than ever.
On June 5, 2025, the fourth and final wave of reopenings began, with 78 new stores reactivated in states such as Florida, Ohio, Virginia, and Georgia. Currently, Big Lots! has 219 operating locations, a clear sign that the rebirth strategy is working. Variety Wholesalers has already confirmed that they plan to keep expanding the store network, even recovering some of those that closed during the crisis.
With this strategy focused on connecting with local communities and keeping competitive prices, Big Lots! is repositioning itself as a trusted option in American retail. CEO Lisa Seigies stated that customer support has exceeded all the company's expectations, a fact that supports the success of this new phase. Big Lots!'s return is a very clear example that, with vision, effort, and a good strategy, it's possible to be reborn, even in the most difficult times.