MURFREESBORO – Discount retail chain Big Lots, which filed for Chapter 11 bankruptcy protection in September 2024, has reached an agreement to keep hundreds of its stores open, including its Murfreesboro, location.
The company has struck a deal with Gordon Brothers Retail Partners, which plans to transfer Big Lots' assets to other retailers. As part of this agreement, Variety Wholesalers Inc., a company that operates over 400 discount stores across the Southeast and Mid-Atlantic regions, intends to acquire between 200 and 400 Big Lots locations while maintaining operations under the Big Lots brand.
The Murfreesboro store, located at 1262 Northwest Broad Street, remains open and is currently holding a clearance sale.
Big Lots President and CEO Bruce Thorn described the agreement with Gordon Brothers as the best opportunity to preserve jobs and maintain the continuity of the brand. The company had previously attributed its financial struggles to inflation and high interest rates, which led to a decline in consumer spending on home and seasonal products, significantly affecting revenue.
