Retail chain Big Lots, which filed for bankruptcy a few months ago, has reached a deal that’s expected to keep hundreds of its stores and distribution centers open. The chain is being sold to Gordon Brothers Retail Partners, which specializes in distressed companies. WRCR market analyst Ken Mahoney of Mahoney Asset Management says Gordon Brothers has a decent track record in situations like this…
The Big Lots location in Nanuet closed in early January. No word yet on whether it or what other locations might re-open. That and another troubled retailer are drawing the attention of another former retail operator. The New York Post reported that Mitch Modell, the former CEO of Modell’s Sporting Goods, which itself went out of business four years ago, is interested in buying Party City and Big Lots.