Bankrupt Big Lots Stores Are Being Gobbled Up by This Prominent Discount Chain

As Big Lots prepares to close 11 Michigan stores and hundreds across the US by year's end, another major retailer is swooping in to take over the defunct locations.

Earlier this year, Big Lots struck a deal with Nexus Capital Management which has agreed to purchase a large portion of the discount chain's assets. In an attempt to once again become profitable, Big Lots has announced that it will shutter 35 to 40 stores by the end of 2024. The move is part of a bigger plan to close nearly 300 stores in the near future, including almost a dozen Michigan locations.

Big Lots in Michigan

By the end of 2024, Big Lots plans to reduce its Michigan footprint from 46 to 35 stores by shuttering the following 11 locations.

• Big Rapids: 750 Perry Ave
• Coldwater: 373 N. Willowbrook Rd.
• Holland: 2353 N. Park Dr.
• Howell: 3669 E. Grand River Ave.
• Kentwood: 4254 28th St. Se
• Lansing: 5625 W. Saginaw Hwy, Unit 1
• Madison Heights: 32399 John R Rd.
• Okemos: 2020 Grand River Ave.
• Petoskey: 1401 Spring St.
• Portage: 6207 S. Westnedge Ave.
• Ypsilanti: 2850 Washtenaw Ave.

Ollie's Plans to Acquire Select Big Lots Locations

Discount chain Ollie's Bargain Outlets has announced that it plans to continue acquiring Big Lots stores that have been shuttered by the company.

Ollie's has already gobbled up 15 former Big Lots locations. According to Penn Life, the discount chain announced last week that it is the winning bidder on eight additional former Big Lots leases, including one location in Michigan.

Of course, the final acquisition is subject to bankruptcy court approval, but Ollie's plans to acquire the former Big Lots location at 750 Perry Ave. in Big Rapids, Michigan. 

Additional locations in Connecticut, Indiana, Missouri, Ohio, Tennessee, Vermont, and Wisconsin are also being acquired by the Pennsylvania-based retailer.