Summary
Big Lots was ‘too expensive' — the discounter's new owner says
“The former Big Lots got too expensive and the assortment wasn't everyday,” said Lisa Seigies, chief executive of Variety Wholesalers, a discount retailer that bought Big Lots out of bankruptcy in January.
Big Lots to reopen more than 100 shuttered stores after bankruptcy filing
“We're excited to bring an additional 132 Big Lots! locations back to life in May,” said and CEO of Variety Wholesalers, which acquired more than 200 Big Lots stores.
Big Lots' Long Road Ahead: Discount Retailer Faces Challenges Despite Acquisition
Big Lots, a once-dominant player in the discount retail sector, faces an uncertain future following an acquisition by Gordon Brothers Retail Partners. The agreement, finalized Dec. 27, ensures hundreds of Big Lots stores will remain operational, as the assets of the bankrupt retailer are transferred to other entities, including Variety Wholesalers.
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Big Lots, Inc. Profile
| Software Industry | Information Technology Sector | Bruce K. Thorn CEO | NYSE Exchange | 089302103 CUSIP |
| US Country | 10,000 Employees | - Last Dividend | 25 Jun 1997 Last Split | 28 Jun 1985 IPO Date |
Overview
Big Lots, Inc., a prominent player in the home discount retail sector, operates its chain of stores across the United States. With a rich history dating back to its inception in 1967, the company has grown extensively, catering to a diverse clientele seeking a mix of quality and value. Headquartered in Columbus, Ohio, Big Lots stands out in the competitive retail market through its wide range of products, strategically divided into multiple merchandising categories. The company aims to provide a one-stop shopping experience to customers, offering everything from furniture and home décor to food and electronics under one roof.
Products and Services
Big Lots, Inc. offers a comprehensive array of products and services across various categories:
- Furniture: This category features an extensive selection including upholstery, mattresses, case goods, and ready-to-assemble items, catering to the various needs of customers looking to furnish or update their living spaces.
- Seasonal: Offering a vibrant selection of patio furniture, gazebos, Christmas decorations, and other holiday items, this category is tailored for customers seeking to celebrate seasons and occasions with festive flair.
- Soft Home: It encompasses a range of home décor products such as frames, fashion and utility bedding, bath, window treatments, decorative textiles, and area rugs, aimed at enhancing the aesthetic appeal of homes.
- Food: This category includes a diverse mix of beverage and grocery items, specialty foods, and pet products, addressing the daily needs and preferences of customers.
- Consumables: Featuring health and beauty products, cosmetics, plastics, paper goods, and cleaning supplies, this category meets the everyday essentials required for personal care and home maintenance.
- Hard Home: It covers small appliances, kitchenware, food preparation items, home maintenance, organization products, and toys, catering to functional home needs and leisure activities.
- Apparel, Electronics, and Other: This diverse category offers apparel, electronics, jewelry, hosiery, as well as candy and snacks, providing a range of products that complement the lifestyle and interests of various customers.
