Retail bankruptcy is, unfortunately, quite common these days. In 2026, Eddie Bauer, QVC, Neiman Marcus, and Francesca’s are just a few of the well-known names that have called it quits.
Many flourished for decades, and Eddie Bauer even operated for more than a century. But even the longest-lasting brands may struggle in a retail climate where shoppers continue to go online for their shopping needs.
That trend continues to grow, although physical retailers are far from out. Offline retail spend accounted for 77% in 2025 but is expected to drop to 73% by 2028, EY research from June 2025 confirms. But capturing the customer’s interest depends on several factors, and with so much competition, survival of the fittest is the name of the game.
Big Lots is one of the companies that has battled through both longevity and struggle. Founded in 1967 as a discount retailer, it filed for Chapter 11 bankruptcy in September 2024 and was then purchased by Gordon Brothers Retail Partners.
Gordon turned around and sold Big Lots to Variety Wholesalers Inc., a company that owns more than 400 discount stores in the U.S. Southeast and Mid-Atlantic regions.
Big Lots customer and Reddit user Sweet_Importance_284 felt less than confident about the retailer’s transition of ownership.
It’s like in some weird way, Variety is making the same mistakes the original Big Lots did!
While Variety has delivered on the major changes it promised it would bring to Big Lots, including targeting a higher-end demographic, new shifts are happening that may make people question whether the pivots are actually attracting more business.
A big pivot for Big Lots
Big Lots, which currently has 217 stores, will close several more this year. Two have already closed: one in Asheboro, North Carolina, located at 1432 E. Dixie Dr., and one in Ephrata, Pennsylvania, at 389 Reading Rd.
Now, two more in South Carolina are slated to close, employees revealed on social media. One is located in West Columbia at 3230 Augusta Rd., while the other is in Greenwood at 339 By-pass 72 NW. A Reddit post sharing a company memo an employee received at the Greenwood location indicated that it will close on Sept. 12.
While store closures are never good news, what’s perhaps more interesting is the customer discussion about what shopping at Big Lots has been like since the Variety Wholesalers takeover.
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“It’s been one year since the shutdown of all Big Lots Stores and then some reopening as Variety’s version,” Reddit user Sweet_Importance_284 wrote. “I haven’t been to one since it reopened, and I don’t think I want to either. But I did look at an ad today that showed the same stuff that was officially sold from 2024! Even down to the Progressive Leasing.”
“I’ve been in two stores in PA since they reopened,” a second customer wrote. “There seems to be more clothing, and just less variety of everything else. Just one brand of anything they offer, and usually not the best brand (but a workable one). The furniture section was even more laughable than it usually is, with just one each of about a dozen different things. I left both stores without any need to ever go back.”
Where’s Variety’s plan for Big Lots?
Variety may have planned to appeal to a higher-end demographic, but so far, there’s no sign of that in Big Lots stores or in the brand’s online presence. A Facebook post from July 28 shows products being sold in their shipping boxes, and a prior post shows handwritten sale signs that give more of a garage-sale vibe than a brand trying to pivot to attract a higher-end shopper.
However, some stores are showing off a more organized look. A July 14 Facebook post showed a Halloween rollout with neat displays reminiscent of Michaels. Since shopping early for Halloween has been on-trend for years now, Variety is hitting the mark with this move.
The rollout of Variety’s strategy may need more time to come to fruition, but one thing is certain: It needs to find a way to attract shoppers back to its stores. Selling more discount products is probably not the answer, as it led the company to bankruptcy in the first place.
