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Big Lots bought, stores to stay open

Big Lots will no longer close all remaining stores after agreeing to a sale this week, according to an MLive article on Saturday.

The national retailer announced Friday that it struck a deal to save hundreds of stores, thousands of jobs, and keep the brand alive.

Facing bankruptcy, Big Lots already closed 300 stores across the country, including 11 in Michigan. Alpena was not listed among those 11 closures.

There are currently 30 Big Lots stores still operating in Michigan.

Under the agreement, Big Lots will transfer assets to Gordon Brothers Retail Partners, LLC, including stores, distribution center, and intellectual properties to other retailers including Variety Wholesalers, Inc. Variety Wholesalers, another national retailer, plans to acquire between 200 and 400 Big Lots stores and up to two distribution centers, operating them under the Big Lots brand.

The news comes after Big Lots filed for Chapter 11 bankruptcy in September due to declining sales.

It’s unclear still which stores will be saved, but the sale agreement will keep hundreds of stores from shuttering. The sale is pending approval from the Bankruptcy Court and other closing conditions.

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