COLUMBUS, Ohio /PRNewswire/ — Big Lots, Inc. (the “Company”) today announced that it has successfully closed its previously announced sale agreement with Gordon Brothers Retail Partners, LLC (“Gordon Brothers”) that will enable Variety Wholesalers, Inc. (“Variety Wholesalers”) to acquire between 200 and 400 Big Lots stores, which it plans to operate under the Big Lots brand, and up to two distribution centers. In addition, Variety Wholesalers may employ Big Lots associates at the acquired stores and distribution centers, as well as certain corporate associates needed to support Big Lots’ go-forward footprint.

Bruce Thorn, Big Lots’ President and Chief Executive Officer, said, “We are pleased to close this strategic transaction, which provides a framework to preserve thousands of jobs, maximize value, and maintain the Big Lots brand. We are working closely with the Gordon Brothers and Variety Wholesalers teams on this transition. We are grateful for the continued hard work and dedication of Big Lots associates across the Company.”

Kyle Shonak, Gordon Brothers’ Chief Transaction Officer, said, “We were proud to support Big Lots through the restructuring process to enable the Company’s continued operation, and look forward to working with Variety Wholesalers to support Big Lots’ go-forward footprint.”

Lisa Seigies, Variety Wholesalers’ President and CEO, said, “Variety is thrilled to officially welcome the Big Lots brand and looks forward to operating hundreds of Big Lots store locations. This strategic acquisition allows us to serve additional customers and communities. We plan to combine the best of Variety with the best of Big Lots and are excited about the possibilities ahead.”

Court filings and other information related to the proceedings, including how to file a proof of claim, are available on a separate website administrated by the Company’s claims agent, Kroll Restructuring Administration LLC, at https://cases.ra.kroll.com/biglots, by calling toll-free at (844) 217-1398 (or +1 (646) 809-2073 for calls originating outside of the U.S. or Canada), or by sending an email to [email protected].

Advisors

Davis Polk & Wardwell LLP is serving as legal counsel, Guggenheim Securities, LLC is serving as financial advisor, AlixPartners LLP is serving as restructuring advisor, and A&G Real Estate Partners is serving as real estate advisor to the Company.

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Riemer & Braunstein LLP acted as counsel and M3 Partners LP acted as financial advisor to Gordon Brothers. Gordon Brothers’ Real Estate Services team will handle real estate matters for Gordon Brothers as well as Variety Wholesalers. For real estate inquiries, please contact Gordon Brothers’ Real Estate Services team at [email protected].

Cozen O’Connor is serving as legal counsel to Variety Wholesalers.

About Big Lots, Inc. 

Big Lots is one of the nation’s largest closeout retailers focused on extreme value. The Company is dedicated to being the big difference for a better life by delivering bargains to brag about on everything for the home, including furniture, décor, pantry and more. It fulfills its mission to help customers “Live BIG and Save LOTS” with sourcing strategies to grow extreme bargains through closeouts, liquidations, overstocks, private labels, and value-engineered products. The Big Lots Foundation, together with the Company’s customers, associates, and vendors, has delivered more than $176 million of philanthropic support to critical needs in hunger, housing, healthcare, and education. For more information, to shop online, or to find a store near you, please visit biglots.com.

Cautionary Statement Concerning Forward-Looking Statements

Certain statements in this release are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, and such statements are intended to qualify for the protection of the safe harbor provided by the Act. The words “anticipate, “estimate,” “continue,” “could,” “approximate,” “expect,” “objective,” “goal,” “project,” “intend,” “plan,” “believe,” “will,” “should,” “may,” “target,” “forecast,” “guidance,” “outlook” and similar expressions generally identify forward-looking statements. Similarly, descriptions of our objectives, strategies, plans, goals or targets are also forward-looking statements. Forward-looking statements relate to the expectations of management as to future occurrences and trends, including statements expressing optimism or pessimism about future operating results or events and projected sales, earnings, capital expenditures and business strategy. Forward-looking statements are based upon a number of assumptions concerning future conditions that may ultimately prove to be inaccurate. Forward-looking statements are and will be based upon management’s then-current views and assumptions regarding future events and operating performance and are applicable only as of the dates of such statements. Although we believe the expectations expressed in forward-looking statements are based on reasonable assumptions within the bounds of our knowledge, forward-looking statements, by their nature, involve risks, uncertainties and other factors, any one or a combination of which could materially affect business, financial condition, results of operations or liquidity.

Forward-looking statements that we make herein and in other reports and releases are not guarantees of future performance and actual results may differ materially from those discussed in such forward-looking statements as a result of various factors, including, but not limited to, the current economic and credit conditions, inflation, the cost of goods, our inability to successfully execute strategic initiatives, competitive pressures, economic pressures on our customers and us, the availability of brand name closeout merchandise, trade restrictions, freight costs, the risks discussed in the Risk Factors section of our most recent Annual Report on Form 10-K, and other factors discussed from time to time in other filings with the SEC, including Quarterly Reports on Form 10-Q and Current Reports on Form 8-K. This release should be read in conjunction with such filings, and you should consider all of these risks, uncertainties and other factors carefully in evaluating forward-looking statements.

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You are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date they are made. We undertake no obligation to publicly update forward-looking statements, whether as a result of new information, future events or otherwise. You are advised, however, to consult any further disclosures we make on related subjects in our public announcements and SEC filings.

SOURCE Big Lots, Inc.

In a significant development for Southern California travelers, a recent announcement from the Federal Railroad Administration (FRA) has the potential to enhance commuter experiences along the bustling San Diego to Los Angeles route. A generous federal grant of $27.1 million has been allocated to restore Amtrak passenger service to its pre-pandemic levels, promising to add three additional round trips daily to the existing schedule. This initiative aims not only to reduce overcrowding on trains but also to provide a more pleasant travel experience overall.

Enhancing Travel Options

With Southern California’s notorious traffic congestion, the relief provided by additional train service is a game-changer. Senator Catherine Blakespear, D-Encinitas, articulated the community’s sentiments, stating, “Having more frequent options to go between San Diego and Los Angeles by train, instead of sitting in traffic on the I-5 freeway, is a major improvement for residents’ quality of life throughout Southern California.” This sentiment resonates with countless commuters who have long sought alternatives to driving on overcrowded highways.

The added service is part of the Los Angeles-San Diego-San Luis Obispo (LOSSAN) rail corridor, a vital 351-mile route that connects San Diego to the rest of the U.S. This corridor is not just crucial for passenger travel; it also serves freight trains and supports the economies of the six counties it traverses, which together are home to around 20 million residents.

A Boost for Rail Infrastructure

The funding will be directed towards implementing the additional round trips over the next six years, ultimately enhancing the reliability and convenience of train travel between the second- and eighth-largest cities in the nation. U.S. Representative Mike Levin, D-San Juan Capistrano, echoed support for the initiative, noting in a post on X, “This means more trains and less crowding.” The increased frequency is expected to alleviate demand on certain Pacific Surfliner trains, ensuring that trains run on a predictable schedule.

Environmental and Community Benefits

Beyond the immediate convenience for commuters, the plan aligns with broader environmental goals. Enhanced rail service aims to reduce traffic congestion and lower greenhouse gas emissions, contributing positively to California’s climate objectives. As travel by rail often presents a more sustainable alternative to driving, this move coincides with concurrent efforts to meet the state’s ambitious climate targets.

Senator Blakespear has been proactive in pushing for improved rail management and resilience. Her legislative efforts, including Senate Bill 1098 and Senate Bill 677, emphasize the importance of coordinating maintenance and assessing the long-term impacts of climate change on rail services. Such foresight ensures that California’s rail infrastructure can adapt to the challenges of the future while providing efficient service for its residents.

A National Commitment to Rail Service

This $27.1 million grant is part of a larger national initiative, where the FRA awarded over $1.1 billion to improve rail service and safety across the United States. This funding represents a commitment not only to enhance passenger travel but also to invest in the necessary infrastructure to support the growing demand for reliable public transportation.

Looking Forward

As Southern California gears up for the reinvigorated train services, excitement builds for what this means for residents looking for stress-free travel options. The collaboration between federal, state, and local agencies highlights a shared vision to improve the quality of life through better public transportation. As the first trains roll out over the years to come, passengers can expect a more reliable, convenient, and environmentally-friendly travel experience that connects them to the vibrant regions of San Diego and Los Angeles.

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This transformation reshapes the future of travel in Southern California, making rail service an increasingly viable and appealing choice for commuters and leisure travelers alike.

Related links:

https://www.10news.com/news/local-news/sen-blakespear-applauds-27m-federal-grant-to-increase-train-service#google_vignette

https://timesofsandiego.com/life/2025/01/10/amtrak-to-add-roundtrips-from-san-diego-to-l-a-thanks-to-27m-federal-grant/

STM Daily News is a vibrant news blog dedicated to sharing the brighter side of human experiences. Emphasizing positive, uplifting stories, the site focuses on delivering inspiring, informative, and well-researched content. With a commitment to accurate, fair, and responsible journalism, STM Daily News aims to foster a community of readers passionate about positive change and engaged in meaningful conversations. Join the movement and explore stories that celebrate the positive impacts shaping our world.

https://stmdailynews.com/

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PHOENIX — In an exciting initiative to celebrate the upcoming opening of the South Central Extension/Downtown Hub light rail project, Valley Metro is calling on local artists to showcase their creativity by designing a commemorative poster. This significant 5.5-mile extension will connect south Phoenix to the Valley’s ever-evolving light rail system, running from Central Avenue to Baseline Road, and is set to enhance public transportation accessibility for residents, expected to launch later this year.

The South Central Extension will add eight new stations and two park-and-ride facilities, making public transit a more viable option for thousands of commuters in metro Phoenix. Valley Metro hopes to highlight this development not only as a means of transportation but also as a bridge strengthening community ties. To achieve this vision, the public transportation authority is particularly interested in artwork that reflects the culture and heritage of south Central and downtown Phoenix.

Artists aged 18 and over can apply through the Articipant platform, a vibrant community dedicated to Arizona artists. It’s important to note that while artists can submit their applications on Articipant, they are not required to submit proposals at this stage. Interested artists have until 5 p.m. on January 24 to submit their applications, so time is of the essence!

The selected winning artwork is envisioned to encapsulate the spirit of the South Central Extension and its significance to the community it serves. Additionally, the project will feature public art installations throughout the new transit hub, further enriching the urban landscape of downtown Phoenix.

This is more than just a poster; it’s a chance for artists to contribute to a momentous occasion in Phoenix’s public transportation narrative. By centering local talent and community heritage, Valley Metro is creating a meaningful connection between art and accessibility—cementing the role of the light rail as a vital resource for the neighborhoods it serves.

Artists looking to apply must be at least 18 years old and a registered Articipant with Artlink Inc. Signing up to be an Articipant is free. With the support of Artlink Inc., artists should submit their applications through the Artlink website. Artists must submit their qualifications, not proposals. Applicants must also demonstrate a connection to the South Central and/or Downtown Phoenix communities. This call for artists closes at 11:59 p.m. on Wednesday, January 24, 2025.

For more information about this call for artists and the Valley Metro Artsline program visit valleymetro.org/artsline.

For more Valley Metro information, visit:

https://www.valleymetro.org/news/2025/01/valley-metro-seeks-artist-for-south-central-extension-downtown-hub-light-rail-opening

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STM Daily News is a vibrant news blog dedicated to sharing the brighter side of human experiences. Emphasizing positive, uplifting stories, the site focuses on delivering inspiring, informative, and well-researched content. With a commitment to accurate, fair, and responsible journalism, STM Daily News aims to foster a community of readers passionate about positive change and engaged in meaningful conversations. Join the movement and explore stories that celebrate the positive impacts shaping our world.

https://stmdailynews.com/