Biglot’s comeback continues, with 78 stores reopening in nine states
Lisa Saggies, president and CEO of variety wholesaler, is debating why the company is worth restoring its “Craman Countdown.”
Another 80 big lot stores are scheduled to reopen this week.
A total of 78 locations in nine states will resume operations on Thursday as various wholesalers complete a fourth “wave” of reopening big lot stores that they purchased following the recent bankruptcy of discount retailers.
Biglot stores reopen this week are located throughout Florida, Georgia, Kentucky, North Carolina, Ohio, Pennsylvania, South Carolina, Tennessee and Virginia.
The Big Lot logo will appear in the shopping cart in front of our store in Hercules, California on June 7, 2024. (Justin Sullivan/Getty Images)
He filed for Chapter 11 bankruptcy in the fall, and then reached a sales agreement with Gordon Brothers’ retail partners, with Variety Wholesale Partners purchasing 219 big lot stores.
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Discount retailers went bankrupt and were restructured and promoted sales.
When I filed for bankruptcy, it was negatively affected by recent macroeconomic factors such as high inflation and interest rates beyond its control, as well as other retailers, and began to see a pullback of discretionary spending on “core customers” homes and seasonal products.
Customers are shopping at Biglot’s store in Hercules, California on June 7, 2024. (Justin Sullivan/Getty Images)
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Variety wholesalers have begun reopening the big stores they purchased in April.
The first “wave” of the reopening included nine locations that were reopened to customers, and another 132 large lot locations with variety wholesalers rebooting in May in the next two batches.
Variety wholesalers said they are planning to hold a “Grand Opening Celebration” in the fall along with “exciting new deals” at all 219 locations.
According to the company, its “staged reopening strategy” is “fulfilled with overwhelmingly positive customer responses.”
On June 7th, 2024, we went to the Big Lot store in Hercules, California. (Justin Sullivan/Getty Images)
“This enthusiastic response reinforces our belief that we take a big lot! Returning to the roots of what has become a huge success resonates with our customers.” “Providing great value is always our core mission.”
The successful reopening “spurred a variety of wholesalers to explore options to acquire additional large lots!”, the company said.
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