Ocean State Job Lot, a popular discount retailer, is stepping in to save 15 Big Lots locations after the chain filed for bankruptcy last fall. These stores, spread across eight states, will reopen under the Ocean State Job Lot name in May and June 2025.
Big Lots Bankruptcy and Store Sales
Big Lots declared bankruptcy on September 9, 2024, and has since been closing many of its stores. To avoid permanent closures, the company sold some stores to other retailers.
In March, Ocean State Job Lot announced it had acquired 15 former Big Lots stores. These stores vary in size from about 27,000 to 43,000 square feet and will soon offer Ocean State Job Lot’s signature bright and spacious shopping experience.
Ocean State Job Lot’s Expansion Plans
Based in Rhode Island, Ocean State Job Lot currently operates 159 stores in the Northeast. The company is growing quickly by reopening former retail spaces like those of Big Lots, Toys R Us, and Christmas Tree Shops.
In 2025, Ocean State Job Lot plans to open up to 22 new stores—including the 15 former Big Lots locations and five to seven brand-new sites. This expansion will introduce the chain to new markets in Maryland and Delaware.
Marc Perlman, CEO of Ocean State Job Lot, said, “Expanding into new markets has long been part of our strategic plan. We look forward to bringing value, friendly service, and great savings to these communities.”
Other Big Lots Store Sales and Industry Trends
Big Lots has also sold hundreds of stores to other companies, including Variety Wholesalers, Gordon Brothers Retail Partners, Ollie’s Bargain Outlet, Tractor Supply, Burlington, and Aldi.
The retail industry, however, is facing challenges beyond just Big Lots. Many stores are closing due to high inflation, changing shopping habits, and the growth of online shopping.
Experts predict around 15,000 stores will close in 2025 alone. While some call this a “retail apocalypse,” others, like retail analyst Dominick Miserandino, say it’s a natural evolution. “The world is shifting,” he explained. “It’s not negative, it’s adapting.”
Ocean State Job Lot’s acquisition of these Big Lots stores is a positive sign amid retail struggles. As the retail world changes, companies that adapt by offering value and convenience may thrive. Customers can expect familiar discount shopping experiences as these stores reopen under new management.
