HomeTop StoriesLocal Big Lots locations appear to be closing

Local Big Lots locations appear to be closing

Jan. 18 – The new owners of Big Lots appear determined to close the stores and leave the region.

All twelve Big Lots locations in Western New York are listed on a list of leases the company has put up for sale, available on the Gordon Brothers Retail Partners website. For Niagara County, this includes 2429 Military Road, Niagara Falls and 5987 S. Transit Road, Lockport.

Both stores’ leases do not expire until January 31, 2030, with the Niagara Falls store occupying 33,600 square feet and the Lockport store 38,179 square feet. Leases are in place for stores in 47 states, with the company accepting offers through January 24.

A total of 49 New York locations appeared on that list, while the other Western New York locations were in Clarence, Chaffee, Collins, Depew, Dunkirk, Hamburg, Jamestown, Ocean, Tonawanda and West Seneca.

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Big Lots filed for bankruptcy protection last September, already closing hundreds of stores across the country. It was purchased by Gordon Brothers Retail Partners in early January. The company agreed to transfer between 200 and 400 locations to Variety Wholesalers.

“This is a fantastic opportunity for expansion-minded retailers to grow their footprint by acquiring well-located stores with long-term, below-market rents,” said Michael Burden, co-head of North American Real Estate Services at Gordon Brothers. in an edition.

According to the Buffalo News, Big Lots had asked the bankruptcy court to decide which stores would remain open until April 7.

Columbus, Ohio-based Big Lots sells furniture, home decor and other items. When it filed for bankruptcy in September, it said inflation and high interest rates were causing consumers to pull back on purchases of home and seasonal products, two categories on which the chain depends for a significant portion of its sales.

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At the time, Big Lots planned to sell its assets and ongoing business operations to private equity firm Nexus Capital Management.

But on December 20, Big Lots said the deal with Nexus was off. It then partnered with Gordon Brothers to conduct out-of-business sales at its 869 U.S. locations.

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