Variety Wholesalers owns more than 400 retail stores in the Southeastern and Mid-Atlantic states that operate under the names Roses, Roses Express, Maxway, Bill's Dollar Stores, Super 10, Super Dollar and Bargain Town. Variety Wholesalers stores only go as far north as Virginia.

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.

Big Lots said it’s being sold to Gordon Brothers Retail Partners, a firm that specializes in distressed companies.

After previous sale plan falls through, discount retailer strikes new arrangement with Gordon Brothers and Variety Wholesalers.

Less than 10 days after Big Lots announced a purchase agreement had fallen through, the discount retailer agreed to a new deal.

After announcing on Dec. 19 that it planned to go out of business, discount chain Big Lots said Friday it had reached a deal to sell the company Gordon Brothers Retail

Because of a sale brought about by global asset and real estate consulting firm Gordon Brothers, between 200 and 400 Big Lots stores will remain open.

Big Lots has a new deal in place that could save 200 of its stores across the country. Will the Philadelphia-area locations set for closure be among them?

"The strategic sale to Gordon Brothers and the transfer to Variety Wholesalers is a favorable and significant achievement for Big Lots..."