News Summary
Revere is set for a retail transformation with the arrival of Ollie’s Bargain Outlet and Burlington, taking over former Big Lots locations. After Big Lots’ bankruptcy, these competing retailers are stepping in to offer shoppers new bargains and variety. Ollie’s will bring a selection of closeout merchandise, while Burlington will provide low-priced apparel and home décor. As Big Lots prepares for liquidation sales, shoppers can anticipate an exciting shift in the local shopping landscape, with fresh offerings and affordable deals.
Exciting Changes in Revere: New Stores Set to Replace Big Lots!
Revere, a vibrant city known for its bustling shopping scene, is about to witness a significant shift in its retail landscape. After the unfortunate bankruptcy filing of Big Lots last year, several of its former locations are being acquired by competing retail giants, Ollie’s Bargain Outlet and Burlington. This means fresh opportunities for shoppers in Revere and surrounding areas!
The Rise and Fall of Big Lots
Big Lots was once a familiar name for many shoppers in Massachusetts, providing a range of discounted furniture and home goods. However, the store faced challenging times, leading to a Chapter 11 bankruptcy announcement on September 9, 2022. An increase in inflation and a significant dip in discretionary spending from loyal customers contributed to Big Lots closing its doors nationwide, including in Massachusetts. Just like that, what was once a thriving store began its journey to shut down.
New Beginnings: Who’s Buying the Space?
As part of the bankruptcy process, the leases for several Big Lots locations became available, and that’s where the exciting news begins! The Boston-based investment group, Gordon Brothers, stepped in to scoop up the struggling chain and is now in the process of selling leases for the remaining locations.
Ollie’s Bargain Outlet, a popular discount retailer known for its closeout merchandise and brand-name bargains, has made quite the move by acquiring over 60 former Big Lots locations across the nation. Here in Massachusetts, Ollie’s has purchased two of those former locations, although the specific Revere sites aren’t disclosed just yet. The anticipation around what those might be is palpable!
Meanwhile, Burlington, another formidable competitor in the discount retail space, has made its presence known by securing the Big Lots store in Revere. Known for offering a wide assortment of low-priced apparel and home décor items, Burlington currently operates more than 1,000 stores, with over 20 scattered throughout Massachusetts.
What’s Next for Big Lots’ Former Locations?
In the coming days, the remaining Big Lots stores will begin going-out-of-business sales. This means that shoppers can expect incredible discounts as the final stock is cleared out. With 963 Big Lots locations still operating across the nation, and 16 in Massachusetts, these sales could create quite the buzz for bargain hunters.
In a twist, Big Lots executives are actively seeking alternative buyers as their planned sale to Nexus Capital Management fell through. Despite the hardships, there’s optimism that a new plan could be unveiled soon to keep some stores alive.
What Can Shoppers Expect from Ollie’s and Burlington?
As Ollie’s reveals itself as a new neighborhood favorite, shoppers can look forward to the very best in bargain hunting. The store prides itself on providing “extreme value on brand-name products” and aims to be a go-to destination for closeout merchandise and excess inventory.
Meanwhile, Burlington brings its signature mix of fashion and home goods. With every visit, shoppers can browse a diverse range of low-priced brand-name selections, making it the ideal stop for updating wardrobes and decorating homes without breaking the bank.
Conclusion: A New Chapter for Retail in Revere!
The arrival of Ollie’s Bargain Outlet and Burlington to Revere highlights a dynamic shift in the retail environment following Big Lots’ departure. As a former staple retailer fades away, new and exciting opportunities are blossoming in its place. Shoppers can look forward to fresh merchandise, unbeatable bargains, and a revitalized shopping experience in their neighborhood. Let’s keep an eye on how these changes unfold!
Deeper Dive: News & Info About This Topic
- Telegram: Big Lots Stores in MA
- Seacoast Online: Big Lots NH Stores
- Fast Company: Big Lots Stores Closing Update
- MassLive: Big Lots Closing All Mass Locations
- WUPE: Western Massachusetts Retail Store Sold
- Google Search: Big Lots bankruptcy
- Wikipedia: Big Lots
- Encyclopedia Britannica: Retail
- Google News: Big Lots news
- Google Scholar: Big Lots
