In February 2018, Big Lots announced that it had entered into an agreement to acquire U.S. based discount retailer, closeout chain and online merchant, Gordmans, for $76 million in cash. The deal was completed on March 5, 2018.
With the acquisition of Gordmans, Big Lots became a national player in the off-price retail market. Gordmans operated 100 stores in 22 states across the Midwest and Plains regions of the United States. The company also had an e-commerce site.
Gordmans was founded in Omaha, Nebraska in 1915 as a privately held regional department store chain. In 2008, Sun Capital Partners acquired Gordmans and took the company private. In 2014, Gordmans filed for Chapter 11 bankruptcy protection and emerged from bankruptcy in 2015 as a stand-alone company.
Big Lots is a Columbus, Ohio based retailer that operates over 1,400 stores in 47 states. The company sells a variety of merchandise including furniture, home decor, housewares, seasonal items, electronics, toys and more.
The acquisition of Gordmans gives Big Lots a significant presence in the Midwest and Plains regions of the United States. It also provides Big Lots with a strong ecommerce platform to complement its brick-and-mortar stores.
