Big Lots has been handed a lifeline by Gordon Brothers Retail Partners and Variety Wholesalers to save some 200 to 400 stores along with the jobs of the stores' employees.

The deal for the bankrupt retailer will facilitate the transfer of stores and the Big Lots brand to Variety Wholesalers.

Retail chain company Big Lots has announced a sale transaction with Gordon Brothers Retail Partners that will see the transfer of former’s assets to other retailers. This move includes the sale of between 200 and 400 stores and up to two distribution centres to Variety Wholesalers.