Big Lots, the popular discount furniture and home goods retailer, has been struggling financially for some time. Coming into 2025, the company was on the verge of shutting down completely. However, a last-minute bankruptcy acquisition allowed some stores to stay open while others were put up for sale. Now, the big question is—who is taking over these vacant store spaces?
Big Lots Selling Leases in 47 States
At the beginning of 2025, Big Lots was rescued from bankruptcy, but not all of its stores survived the restructuring. A portion of its locations, including distribution centers, were sold to Gordon Brothers Retail Partners. Reports suggest that Gordon Brothers may keep around 200 Big Lots stores open, possibly revamping some of them.
However, this still meant that over 500 stores across 47 states were left without a future. By late January, Big Lots began selling off store leases, allowing other retailers to take over the spaces.
Which Companies Are Taking Over Big Lots Locations?
So far, no single company has purchased all of the available Big Lots leases. However, one major discount retailer has been making moves to acquire a significant portion of them.
Ollie’s Bargain Outlet Expanding into Former Big Lots Locations
One of the biggest buyers of Big Lots leases is Ollie’s Bargain Outlet, a Pennsylvania-based discount retailer. Known for its slogan, “Good Stuff Cheap,” Ollie’s sells a variety of products, including:
- Home goods
- Toys
- Food
- Books
- Other discounted merchandise
According to Chain Store Age, Ollie’s has already purchased 40 additional Big Lots locations, adding to the 23 leases it bought late last year. The company has ambitious growth plans, aiming to open up to 75 new stores in 2025.
Coming into 2025, Ollie’s already had 568 stores in 31 states, and with its rapid expansion, it’s clear that the retailer is taking full advantage of Big Lots’ closures.
What’s Next for Big Lots’ Former Stores?
While Ollie’s is one of the largest buyers of Big Lots locations, there’s still plenty of available space for other companies to step in. Given the prime locations of many Big Lots stores, it wouldn’t be surprising to see other discount chains, grocery stores, or even local businesses moving into these empty retail spaces.