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 acquisition by Boston-based Gordon Brothers has closed, putting the long-time Columbus retailer in the ... The current number includes 83 in Ohio (down from 102 in September) and 14 in Central ...

A buyer acquired the bankrupt Big Lots and will save hundreds of stores. Gordon Brothers, a property liquidator, bought the Columbus-Ohio-based discount retailer out of bankruptcy court and will sell it as a going concern.

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.

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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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The Columbus, Ohio-based retailer announced this month it closed a previously announced sale agreement with Gordon Brothers Retail Partners. The agreement will enable Variety Wholesalers to acquire between 200 and 400 Big Lots stores, which it plans to operate under the Big Lots brand, and up to two distribution centers.

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.