Is Big Lots Still In Business? Comeback After Bankruptcy, New Owner And Stores In 2026
At the end of 2023, Big Lots ran nearly 1,400 stores in 48 states, and then it almost vanished within months.
That is why so many shoppers still ask: is Big Lots still in business?
Yes, Big Lots is still in business in 2026, but it is a much smaller chain with about 220 stores under a new owner, Variety Wholesalers.
The old company filed for bankruptcy in September 2024 and began closing all of its stores that December.
Then a North Carolina discount company bought 219 locations and reopened them in 2025.
It is one of the more surprising retail comebacks of the last few years.
Below, we explain what happened, who owns Big Lots now, and whether more stores are coming back, so let’s dive in.
Is Big Lots Still in Business?
| Quick Answer | |
|---|---|
| Status | Still in business, as a much smaller chain |
| Bankruptcy | Chapter 11 filed in September 2024 |
| Owner | Variety Wholesalers, which also owns Roses and Maxway |
| Stores | About 220, down from nearly 1,400 at the end of 2023 |
| Reopened | 219 stores between April and June 2025 |
So, is Big Lots still in business? Yes, you can shop at a Big Lots store again in many states.
But the chain is only a fraction of the size it used to be.
Why Did Big Lots Go Bankrupt?
Big Lots did not collapse in a single year.
Falling sales and rising costs wore it down over a long stretch.
It was not alone, as other chains like JCPenney have also been shrinking in recent years.
When Did Big Lots File for Bankruptcy?
Big Lots filed for Chapter 11 bankruptcy protection in early September 2024.
It had reported falling sales for years, including nine straight quarters of lower same-store sales.
The company blamed high inflation and interest rates, which made shoppers cut back on home and seasonal items.
Those two categories were a big part of its sales.
Did Big Lots Close All Its Stores?
At first, Big Lots agreed to sell itself to a private equity firm called Nexus Capital Management.
That deal fell through, and in December 2024 it began going-out-of-business sales at every remaining store, as the Associated Press reported.
The chain had already closed hundreds of stores that year.
Then a last-minute deal changed the story, which is why the answer today is not a simple no.
Who Owns Big Lots Now?
Big Lots is now owned by Variety Wholesalers, a private discount chain company based in Henderson, North Carolina.
It also owns Roses, Roses Express, and Maxway, and it ran more than 400 stores in 18 states before buying Big Lots.
In December 2024, Big Lots agreed to sell its stores to Gordon Brothers Retail Partners, which passed hundreds of them to Variety Wholesalers.
The deal was finalized in January 2025, and Variety ended up with 219 locations.
The new owner says it wants to take Big Lots back to its roots.
According to Modern Retail, the new plan means less furniture and more name-brand clothing at low prices.
Stores still sell shelf-stable food and everyday basics, but not fresh food.
Are Big Lots Stores Reopening?
Yes, many Big Lots stores did reopen in 2025, in four waves.
Nine stores came back on April 10, followed by 132 more in two waves in May.
The final 78 stores reopened on June 5, bringing the total to 219, as Fast Company reported.
That is just over a quarter of the stores that were open at the end of 2024.
In October 2025, the company held a grand opening celebration at 223 stores across 16 states.
Listings in 2026 show roughly 217 locations, so the chain has stayed close to the same size.
If you want to find a store near you, the Big Lots store locator on its official website is the best place to check.
It is a comeback story much like Toys R Us, where a new owner rebuilt a smaller version of a famous name.
Conclusion
Yes, Big Lots is still in business, but it is a much smaller company than it was before 2024.
It went bankrupt in September 2024, closed most of its stores, and was rescued when Variety Wholesalers bought 219 locations.
Today it has about 220 stores, a new focus on name-brand closeouts, and a different mix of products.
Not every brand gets that second chance, as Eddie Bauer lost all of its North American stores in 2026.
For the latest store list, the official Big Lots website is the most reliable place to look.
