Ollie’s Bargain Outlet Expands Its Footprint with 40 Former Big Lots Stores
Harrisburg, PA – In a recent business development, Ollie’s Bargain Outlet Holdings, Inc. (NASDAQ: OLLI) announced the acquisition of 40 former Big Lots store leases. This acquisition is subject to final bankruptcy court approval and standard closing conditions.
Background on Ollie’s Bargain Outlet
Ollie’s Bargain Outlet, a leading retailer of home goods and merchandise, has been on a growth spree in recent years. The company specializes in selling new overstocks, closeouts, and salvage merchandise from major brands at significant discounts. With this acquisition, Ollie’s aims to expand its reach and offer more value to customers.
Acquired Stores’ Background
The 40 former Big Lots stores, which are now under Ollie’s control, were previously owned by Big Lots, Inc. The acquisition comes after Big Lots filed for bankruptcy protection in late 2024. Ollie’s had already acquired 23 former Big Lots stores in October 2024, making this the second round of acquisitions from the bankrupt retailer.
Impact on Customers
For customers, this acquisition is a win-win. Ollie’s Bargain Outlet is known for its deep discounts, and with the addition of these 40 stores, more customers will have access to these savings. The new stores are expected to open in the coming months, and customers can look forward to finding great deals on a wide range of merchandise.
Impact on the Retail Industry
This acquisition is a significant move for the retail industry, as it shows the ongoing trend of consolidation among retailers. With Big Lots’ bankruptcy and subsequent store closures, other retailers have been quick to capitalize on the opportunity to expand their footprints. This acquisition also highlights the growing popularity of discount retailers, as consumers continue to seek value in their purchasing decisions.
Conclusion
Ollie’s Bargain Outlet’s acquisition of 40 former Big Lots stores is a strategic move that will expand the company’s reach and offer more value to customers. This acquisition is part of a larger trend in the retail industry, as consolidation continues to be a theme in the post-pandemic economy. With more stores opening in the coming months, customers can look forward to discovering great deals on a wide range of merchandise.
- Ollie’s Bargain Outlet acquires 40 former Big Lots stores
- Acquisition is subject to final bankruptcy court approval and closing conditions
- Expansion will bring more value to customers and increase Ollie’s reach
- Consolidation trend continues in the retail industry
- Customers can look forward to new stores opening soon
