In 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 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.

Variety Wholesalers Inc., which owns more than 400 discount stores in the U.S. Southeast and Mid-Atlantic regions, plans to acquire between 200 and 400 Big Lots stores and operate them under the Big Lots brand. Variety Wholesalers will also acquire up to two distribution centers.

Big Lots (OTC:BIGGQ) has agreed to a transaction with Gordon Brothers Retail Partners that will facilitate the transfer of a majority of Big Lots' assets to Variety Wholesalers and other parties. Variety Wholesalers,

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

COLUMBUS, Ohio — Hundreds of Big Lots stores may stay open due to a last-minute sale announced on Friday. 200 to 400 Big Lots storefronts across the United States could be run by Variety Wholesalers, Inc., which owns and runs stores like: Roses, Roses Express, Maxway, Bill’s Dollar Stores, and more, according to a press release.

Big Lots had 1,300 stores when it filed for Chapter 11 bankruptcy protection in September. The company announced the closures of 315 stores around the same time. With a maximum of 400 stores remaining open thanks to the deal with Variety Wholesalers, it's unclear how many stores in the DMV area will remain open.

Big Lots, which filed for bankruptcy in September, said that it reached an agreement with Gordon Brothers Retail Partners that would keep hundreds of stores open and save thousands of jobs. The Columbus,

Big Lots has struck a deal to save some stores from closing and keep the brand name alive. The discount retail chain announced late Friday that it has agreed to a sale transaction with Gordon Brothers Retail Partners,