Latest news with #BillRead
Yahoo
30-04-2025
- Business
- Yahoo
Is Big Lots reopening in Florida Thursday? Here's what we know about the brand's comeback
The Big Lots saga has been a roller coaster, and it's surging back up. Under its new owner, the once-struggling discount retailer opened nine Big Lots locations across six states on April 10 and plans to open 60 more in a dozen states on May 1, with 70 more nationwide two weeks later. After closing hundreds of stores and filing for bankruptcy in 2024, the company announced its sale to Gordon Brothers Retail Partners. As part of the deal, Variety Wholesalers, Inc. acquired 219 Big Lots stores, as well as two distribution centers. 'We're thrilled to bring the Big Lots! brand back to life by offering more deals than ever, lots of famous brands and a new apparel department for the entire family,' Variety Wholesalers CEO Lisa Seigies said in a news release on April 4. Big Lots will reopen 132 stores in 14 states, including Florida, during two phases of store openings in May. When and where are the reopenings happening in Florida? The Big Lots locations that reopened on April 10 were in Mount Sterling, Kentucky; Metairie, Louisiana; Tupelo and Pearl, Mississippi; Asheboro in North Carolina; Clarksville, Galletin and Dickson, Tennessee; and Roanoke, Virginia. No Florida stores yet. Big Lots openings on Thursday are set to take place in 12 states: Alabama, Georgia, Indiana, Kentucky, Michigan, North Carolina, Ohio, Pennsylvania, South Carolina, Tennessee, Virginia and West Virginia. Big Lots announced on April 28 in a press release that the company would be opening 132 stores in May, including five in Florida: Crystal River, Jacksonville, Marianna, Ormond Beach, and Panama City. Since none are listed as opening on Thursday, these should be in the May 15 wave. That matches a list Big Lots provided with its bankruptcy proceedings of 200 locations that were likely at the time to remain in operation under Variety Wholesalers. If these are the same stores, they would be at: 146 SE U.S. Highway 19, Crystal River 9119 Merrill Road, Suite 50, Jacksonville 4700 Highway 90, Marianna 122 S. Nova Road, Ormond Beach A location for Panama City was not provided, but an archived list of locations shows the only previous Big Lots was at 535 W 23rd Street. Variety Wholesalers wasn't the only company to snap up some Big Lots stores. In March, the Harrisburg, Pennsylvania-based bargain outlet store Ollie's announced it was acquiring 40 Big Lots locations across the country. Bill Read, executive vice president of the commercial real estate firm Retail Specialists, posted the list to LinkedIn. It includes three locations in Florida: Brooksville: 20050 Cortez Boulevard Land O'Lakes: 2414 Land O'Lakes Boulevard New Smyrna Beach: 1998 State Road 44 At the start of 2024, there were 1,392 stores, down slightly from 1,425 in the first quarter of 2023, with 106 in Florida. But according to the financial disclosure, sales dropped 10.2% between the first quarters of 2023 and 2024, equating to a loss of about $114.5 million. 'In 2024, the U.S. economy has continued to face macroeconomic challenges including elevated inflation, which has adversely impacted the buying power of our customers,' the filing from Big Lots said. The company also said it had "substantial doubt" about its ability to continue operations, leading to speculation of a potential bankruptcy filing. This came during a year when Walgreens closed locations, Walmart closed all 51 of its health centers, restaurant chains like Red Lobster, Tijuana Flats, TGI Fridays and Hooters announced closings and retail outlets such as rue21. Express, Best Buy, Macy's, Dollar Tree and Family Dollar all announced bankruptcies or location reductions. Cheryl McCloud, USA TODAY NETWORK - Florida, contributed to this story. This article originally appeared on Florida Times-Union: Big Lots reopening 60 stores on May 1. Here's when Florida stores open
Yahoo
13-03-2025
- Business
- Yahoo
Ocean County getting its first Ocean State Job Lot store in this empty Big Lots spot
BARNEGAT -- Ocean State Job Lot plans to open its first store in Ocean County by taking over a closed Big Lots store on Route 9. A popular discounter, Ocean State Job Lot will become the new anchor tenant at Bayshore Plaza, leasing the 29,797-square-foot storefront, according to Levin Management, the shopping center's leasing and managing agent. In Monmouth County, Ocean State Job Lot has stores in Freehold Township and Holmdel. Big Lots filed for bankruptcy protection last September and was ultimately sold to Gordon Brothers, the asset manager, which ran going-out-of-business sales. The company also has been transferring leases to other retailers interesting in opening stores, including Ocean State Job Lot and Ollie's Bargain Outlet. What's Going There? New owner of The Shops at Brick plans new look and new stores Ocean State Job Lot has acquired 15 Big Lots leases in eight states, including Barnegat, Cape May and Somers Point, according to a recent LinkedIn post by Bill Read, executive vice president of Retail Specialist, who cited court documents. The company did not provide any specific information about the Barnegat store, but did say it was pursuing several Big Lots locations. "We have expressed interest in several Big Lots locations," Ocean State Job Lot said in a statement. "If everything goes as we hope, we expect to open in various former Big Lots locations in the late spring/early summer timeframe. We will provide more information about our plans as soon as we are able." Ocean State Job Lot sells name brand and close-out merchandise at discount prices. The changing variety of items include household goods, apparel, pet supplies, seasonal products, kitchen pantry staples and gourmet and specialty food items. What's Going There? First Hobby Lobby coming to Ocean County, replacing this Christmas Tree Shops store David P. Willis, an award-winning business writer, has covered business, retail, real estate and consumer news at the Asbury Park Press for 27 years. He writes What's Going There column and can be reached at dwillis@ Please sign up for his weekly newsletter and join his What's Going There page on Facebook for updates. This article originally appeared on Asbury Park Press: Ocean State Job Lot opening first Ocean County store in Barnegat
