In the wake of Big Lots' bankruptcy, a restructuring firm is facilitating the transfer of its leases to other retailers in at least 12 states. Ocean State Job Lot is poised to take over 15 locations, with plans to possibly convert them into different store types. The court's approval is pending, and several smaller retailers are also interested in taking over leases. These developments suggest a significant shift in the retail landscape, especially as Variety Wholesalers plans to maintain some stores under the Big Lots brand.
"Presently, that is all we can share publicly. We will provide more information about our plans as soon as we are able."
"The proposed transfer of leases to Ocean State (via a number of limited liability companies) appears to be the largest such transfer outside of the 200 stores that are expected to be transferred to North Carolina-based Variety Wholesalers, which intends to continue operating those stores under the Big Lots brands."
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