Big Lots is under new ownership after a last-minute sale went through that will seemingly keep hundreds of stores in operation and prevent thousands of layoffs. The Columbus, Ohio-based retailer announced this month it closed a previously announced sale agreement with Gordon Brothers Retail Partners.

The closure of a Big Lots distribution center negatively impacted Central Ohio's industrial market in the fourth quarter of 2024, though analysts remain positive about the region's ability to rebound.

Gordon Brothers' purchase of Big Lots Inc. was completed Jan. 9, according to a press release from the firm, but the agreement was announced Dec. 27. Big Lots filed for Chapter 11 bankruptcy in September and has already closed or sold leases for hundreds of stores as part of that process.

The new owners of Big Lots appear set on closing its stores and moving out of the region. All 12 Big Lots locations in Western New York are on a list of leases the company put up for sale, available on Gordon Brothers Retail Partners' website.

Wall Street's 2024 boom landed with a whimper in Columbus, where most of the area's 30 publicly traded companies endured a rocky year.

The retail chain originally filed for bankruptcy in September and has been in the process of getting rid of its underperforming stores since then.

Despite the sale, layoffs at Big Lots’ Columbus headquarters remain uncertain, following a 30% reduction in its footprint with over 400 closures in 2024. The company filed for bankruptcy in September, but the transaction offers hope for sustaining its operations.

As of last year, Columbus, Ohio-based Big Lots Inc. operated 1,000-plus stores in 48 states, as well as an e-commerce platform with fulfillment and delivery capabilities. The company came in at No. 59 on The PG 100, Progressive Grocer’s 2024 list of the top food and consumables retailers in North America.

After Big Lots announced at the end of 2024 that it is going out of business, Carson City and Sparks locations prepare to shut their doors.

Big Lots is under new ownership after a last-minute sale went through that will keep hundreds of stores in operation and prevent thousands of layoffs.

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