The decision comes as the company faced challenges due to a range of factors including the decline of brick-and-mortar retail and increasing online sales. Big Lots entered a deal with Gordon Brothers, an experienced investment and advisory firm that specializes in the retail and consumer products industry. The deal will see Gordon Brothers providing financing support, strategic advice, and assistance in store operations.
Big Lots stores may be closed permanently in a strategic decision to maintain profitability and streamline operations. However, Big Lots’ decision to keep at least 400 of its stores open through a strategic partnership with Gordon Brothers provides hope to those who have grown to rely on the retailer for their household needs. It also signals a continuing trend of retails continuing to adapt to the changing landscape, prioritizing the survival and growth of their businesses.
Despite the challenges Big Lots has faced, the decision to maintain 400 stores open reflects the company’s resilience and its adaptability to the times. Meanwhile, Gordon Brothers has proven its strong ability in retail consolidation strategies, making them an ideal partner to help Big Lots navigate this process.
