Hundreds of Big Lots stores previously planned to close will remain open through a new deal involving North Carolina-based Variety Wholesalers.

Variety Wholesalers, which operates brands including Roses and Maxway, will acquire 200-400 Big Lots locations and operate them under the Big Lots name, and up to two distribution centers, as part of a sale agreement with Gordon Brothers Retail Partners, according to a Jan. 3 news release. Variety may also employ Big Lots associates at stores and distribution centers and certain corporate associates.

“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,” Big Lots President and CEO Bruce Thorn said in the release.

Big Lots has not announced which locations will be acquired by Variety Wholesalers. The company did not immediately respond to The News & Observer’s request Monday, Jan. 6 for more information.

As of Wednesday, Jan. 8, Big Lots’ website still had an “all stores closing” message.

In-store sales are ongoing, managers at Durham and Cary Big Lots locations confirmed to The N&O over the phone. Elsewhere in the Triangle, Big Lots has stores in Fuquay-Varina, Selma, Knightdale and Wake Forest.

Headquartered in Henderson, Variety Wholesalers is a privately held retail company that operates brands including Roses, Roses Express, Maxway, Super 10, Bargain Town, Bill’s Dollar Store and Super Dollar.

The company was founded by John William Pope, the father of former state budget director and state representative James Arthur “Art” Pope, who currently serves as a member of the University of North Carolina System Board of Governors.

Variety Wholesalers’ acquisition of hundreds of stores marks a reversal for Big Lots. Here’s an overview of what has happened to the company over the past few months:

▪ June 2024: Big Lots wrote in a filing with the Securities and Exchange Commission that it planned to close 35-40 locations in 2024.

▪ August 2024: Websites of four Triangle Big Lots stores, two each in Raleigh and Durham, and two in Charlotte showed that the locations would close, The N&O reported.

▪ September 2024: Big Lots filed for Chapter 11 bankruptcy protection and announced a sale agreement with Nexus Capital Management, attributing its financial challenges to high inflation and interest rates and declining sales of home goods and seasonal products since the COVID-19 pandemic. The California-based investment firm would acquire nearly all of Big Lots’ assets and business operations. Big Lots also said it would close stores and “continue to evaluate and optimize its distribution center model.”

▪ Nov. 22, 2024: The court approved the sale of “substantially all” of Big Lots’ assets and ongoing business operations to Nexus. The sale was expected to close in December.

▪ Dec. 19, 2024: Big Lots announced that the purchase agreement with Nexus Capital Management fell through and that it would begin going-out-of-business sales at all of its remaining stores.

▪ Dec. 27, 2024: Big Lots announced a new sale with Gordon Brothers Retail Partners that would transfer Big Lots assets including stores, distribution centers and intellectual property to companies including North Carolina-based Variety Wholesalers, preserving the brand, hundreds of stores and thousands of jobs. Variety would acquire between 200 and 400 stores.

▪ Jan. 3, 2025: The sale agreement with Gordon Brothers closed. “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,” Variety Wholesalers president and CEO Lisa Seigies said in a release.

Two other struggling companies made headlines in December.

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An Arctic front is blowing through the Triangle tonight, bringing cooler temperatures Wednesday.

The coldest point will be late Tuesday, Jan. 14 through Wednesday, Jan. 15, Phil Badgett, a meteorologist at the National Weather Service Forecast Office in Raleigh, told The News & Observer in a phone call.

Breezy winds on the forecast Tuesday night and Wednesday morning will make it feel colder than the actual temperature, Badgett said. With gusts up to 25 mph, the “feels like” temperature is expected to be around 10-15 degrees, Badgett said, so take precautions at the bus stop or commuting to work.

The actual and feels like temperatures will be warmer during the day Wednesday.

“With highs only at 37 [degrees], it’s going to be obviously a cold day, but the winds will be lighter in the afternoon,” Badgett said.

The weather forecast for the weekend is more moderate, with high temperatures around 50 degrees and low temperatures around 30 degrees, plus a chance of rain Saturday, Jan. 18.

But there’s a high probability of another front moving through the area next week that has the potential to be about 10 degrees colder than the front moving through Jan. 14-15.

The Triangle could also get some wintry precipitation, though there’s a lower probability of that, Badgett said.

Duke Energy offers ways to save energy during winter:

Residents should also make sure their homes are properly insulated. The American Red Cross recommends adding extra insulation to attics, basements and crawl spaces, The N&O previously reported.

Have a question about your community you’d like answered? Or maybe a tip or story idea you’d like to share? The service journalism teams at The News & Observer and The Charlotte Observer want to hear from you.

Read Next

Weather News

January 11, 2025 10:42 AM

This story was originally published January 14, 2025 at 4:30 PM.

RALEIGH, N.C. (WTVD) -- Many across central North Carolina got a measurable snowfall, a first since 2022.

RDU officially got less than an inch of snow, along with 0.07" of ice. Areas closer to the Virginia border saw the highest amount of snow around 3 to 4 inches.

Stay tuned to ABC11 Eyewitness News for the latest and check back here for real-time updates and developments on the winter storm front.

Got a good snow photo? Share it with us here.

Click here for latest school closingsDownload the ABC11 App here to get weather updates and breaking news

Key Headlines

Here's how the news is developing.

Jan 13, 2025, 3:49 AM GMT

Central NC schools announce delays, remote learning days due to icy road conditions

Hazardous road risk and freezing temperatures overnight have caused schools across Central NC to switch to remote learning or delay opening on Monday.

Check full list here and see updates.

These updates and changes are entered into the system by the school district.

How to report school closures

Due to the threat of inclement weather, some schools and businesses may decide to close. You can check up-to-the-minute closings here.

If you are in charge of closings for a school or business, the only way to report your organization's closing or delay to ABC11 is by using our online system. The phone system that was used in the past is not operational. Your ID code from the phone system remains the same and it also serves as your Pass Code into the online system.

If you would like to register your organization with ABC11, please email the following information to [email protected] (Please do not email closing information to this email address):

BySydnee Scofield

Jan 13, 2025, 1:34 AM GMT

Triangle shelters grapple with cold weather

With freezing temperatures ahead, white flag shelters are ready to continue making sure people have a safe place to go at night.

Pastor Vance Haywood helps run the emergency shelters and said it really is a matter of life or death.

"There's a lot of mixed emotions that come with it. but just talking with the folks that we're working with and knowing that they're going to have a safe place to be, that they'll be alive tomorrow to be able to work with our case managers to help find, the next steps, that is a really great feeling," he said.

Emergency shelters opened when the temperatures dip to 35 degrees or below overnight, normally serving just under 100 people, and opened their doors to roughly 225 on these white flag nights.

Pastor Haywood said they've had to open this season much more than in years past.

"Right now we've already broken the record for what we've seen over the last five years, with the number of white flag nights that we've already declared," he said. "And with this continued cold snap, it looks like we're going to continue breaking records for a little while"

They can always use donations - but because they've had to open so much this year - they need them now more than normal.

In addition to donations, Haywood said they're always looking for people to donate time as well - as they could use more volunteers - but it helps people better understand the issue of homelessness in our community as well.

ByTom George

Jan 12, 2025, 4:52 AM GMT

NCDOT warns of dangers of black ice

Across the Triangle on Friday, highways and side streets were dusted with snow; over 1,000 days in the making creating tough conditions out on the roads.

North Carolina Department of Transportation crews based in Raleigh were out in full force on Saturday covering the entire area.

"It was a good night. Everything went smoothly. We had a few things we had to adjust to. We had a couple of routes closed and we had to adjust," NCDOT Engineer Doug McNeal said. "We were servicing them from we have certain salt, salt stockpile areas and we had a few accidents. We had to change and pull some resources from different counties into sort of some sections."

One of those accidents was a multi-car chain reaction crash from slippery conditions on Interstate 87 near Knightdale.

By Sunday, the snow was cleared out however crews had to focus on the possibility of black ice.

"We're certainly getting into some freezing temperatures. So we need to expect black ice and black ice can be anywhere," McNeal said. 'We generally you see, it in areas that have been shaded and haven't seen the sunlight. And then they thaw and then refreeze, but they can be anywhere."

Jan 11, 2025, 3:20 PM GMT

Multiple crashes after wintry mix across central NC

There were multiple crashes Saturday morning after snow, freezing rain and sleet moved through central NC. This includes:

NCDOT urges people to stay off the roads if possible.

Recognizing the importance of sustainable growth, rankings include measures of community resilience, income inequality, in addition to labor market performance, high-tech sector’s impact, and access to economic opportunities

LOS ANGELES--(BUSINESS WIRE)--Raleigh, NC is the best-performing large metropolitan area, according to the 2025 Milken Institute Best-Performing Cities (BPC) report, taking the top spot in the rankings following two consecutive years of ranking among the top-three large cities. Among small cities, Gainesville, GA tops the index after being featured among the BPC's top 10 small metropolitan areas every year since 2016. These cities’ rankings were fostered by strong job and wage growth and a robust high-tech presence.

“Metro areas with labor markets characterized by the presence of multiple industries tend to display more stable growth due to their resilience to sectoral downturns, such as the one experienced by leisure and hospitality in 2020 or the tech sector more recently”

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The index, published annually since 1999, reflects cities’ effectiveness at leveraging their resources to promote economic growth and provide their residents with access to the essential services and infrastructure needed for success. The index is based on job creation, wage growth, and the high-tech sector’s output growth, in addition to measures of access to economic opportunities, such as housing affordability and broadband coverage.

The 2025 index and rankings are mainly based on data from 2023, the most recent data available. During that year, the US labor market added more than 2.8 million jobs across metropolitan areas, with metros accounting for 88.2 percent of all US jobs.

“Raleigh and Gainesville have both experienced remarkable employment and wage growth, coupled with robust performance in their access to economic opportunities indicators. These metro areas prove that strong economic performance is possible in an environment that provides residents with the opportunities necessary to thrive,” said Maggie Switek, PhD, senior director of research at the Milken Institute.

This year’s top-performing cities had several common themes, including robust labor market conditions, widespread access to broadband internet, and relatively low levels of income inequality. While remarking on the strong performance of top-ranked cities, this year’s BPC report also noted that cities that offer higher wages and lower costs of living remain attractive to younger generations of workers.

Having experienced several years of good labor market conditions, Raleigh received the top ranking with high levels of employment growth and wage growth over the last five years.

“Raleigh consistently tops best-of lists for good reasons. Our highly educated pipeline of talent, innovative start-ups, and low cost of doing business attract high-tech firms, advanced manufacturing, and corporate headquarters from all over the world. Our parks and greenways, our vibrant downtown, and our diverse music, art, and restaurant scene offer plenty of options to enjoy time with family and friends outside of work. We’re honored to receive this recognition of our efforts from the Milken Institute,” said Raleigh Mayor Janet Cowell.

Gainesville, GA, a long-time contender for the top spot, tops the list of small cities for the first time. The metro’s top position is due to its strong performance across all components of the index, signaling that growth has been sustainable and inclusive.

“It’s an incredible honor and privilege to have the Milken Institute select the city of Gainesville as the best-performing small metropolitan area in the United States,” said Gainesville Mayor Sam Couvillon. “It’s recognitions such as these that reaffirm the city’s meticulous actions and make every difficult decision made on behalf of the taxpayers worthwhile while also helping us identify areas of improvement. I think I speak on behalf of the Gainesville City Council, city management, and staff when I say this distinction will further motivate us to keep these trends, and this community, moving forward.”

The index ranks cities into five tiers, allowing stakeholders such as policymakers, business leaders, and residents to compare their economic performance more easily to their peers. Notably, this year’s ranking illustrates a key trend among US large metros that reflects the rising performance of relatively less populous big metropolitan areas, such as Olympia–Tumwater, WA, Huntsville, AL, and Fayetteville–Springdale–Rogers, AR–MO.

Key findings from the 2025 Best-Performing Cities index:

“Metro areas with labor markets characterized by the presence of multiple industries tend to display more stable growth due to their resilience to sectoral downturns, such as the one experienced by leisure and hospitality in 2020 or the tech sector more recently,” added Switek.

How We Evaluate Cities

The index measures economic vitality in 200 large metropolitan areas and 203 small metropolitan areas by assessing performance of the labor market, tech sector, and access to economic opportunities. The 2025 version of the index emphasizes jobs, wages, high-tech growth, housing affordability, and broadband coverage, in addition to metrics of community resilience and income inequality.

To ensure that population size doesn't skew results, the index divides US metropolitan areas into large and small cities, which are then classified into five tiers, with Tier 1 being the highest-ranked cities and Tier 5 being the lowest-ranked cities. The Best-Performing Cities interactive map allows users to compare cities' performance relative to their peers, determined by city size and ranking tier.

2025 Milken Institute Best-Performing Cities Index

LARGE US CITIES: TIER I

Raleigh, NC Ogden–Clearfield, UT Salt Lake City, UT Huntsville, AL Colorado Springs, CO Austin–Round Rock, TX Fayetteville–Springdale–Rogers, AR–MO Olympia–Tumwater, WA Palm Bay–Melbourne–Titusville, FL Boise City, ID Charleston–North Charleston, SC Myrtle Beach–Conway–North Myrtle Beach, SC–NC

SMALL US CITIES: TIER I

Gainesville, GA St. George, UT Idaho Falls, ID Bend–Redmond, OR Midland, TX Jefferson City, MO Coeur d'Alene, ID Jacksonville, NC Missoula, MT Auburn–Opelika, AL The Villages, FL Winchester, VA–WV Elizabethtown–Fort Knox, KY Wenatchee, WA Lawrence, KS

Members of the media are invited to a virtual overview of the 2025 Best-Performing Cities on Thursday, January 16, from 3 to 4 p.m. ET. Maggie Switek, senior director of research and lead report author, will moderate the event, which will feature dialogue with mayors from this year’s top-performing cities. Register for the virtual event here.

About the Milken Institute

The Milken Institute is a nonprofit, nonpartisan think tank focused on accelerating measurable progress on the path to a meaningful life. With a focus on financial, physical, mental, and environmental health, we bring together the best ideas and innovative resourcing to develop blueprints for tackling some of our most critical global issues through the lens of what’s pressing now and what’s coming next. For more information, visit https://milkeninstitute.org/.

Contacts

Paul Guequierre Email: [email protected] Phone: (202) 249-6942

???? Raleigh slid down by four places to No. 21 in Zillow's hottest real estate markets for 2025. (Axios)

???? North Carolina's State Health Plan is facing a $507 million deficit, Treasurer Brad Briner said, adding that he believes the funding hole means the state will have to raise premiums for state employees for the first time in nine years. (NC Newsline)

???? A Raleigh post office will be renamed after World War II veteran Millie Dunn Veasey, who served in the only all-Black, all-female unit to operate overseas as part of the African American Women's Army Corp. (WRAL)

⚖️ Numerous sitting North Carolina judges and attorneys running for judicial office have made political contributions, which is prohibited in the North Carolina Code of Judicial Conduct. (The Assembly)

???? N.C. State and UNC renamed their annual hockey matchup trophy to the Roy Cooper Governor's Cup. (X)