Big Lots will no longer be closing all remaining stores after agreeing to a sale this week. The national retailer announced Friday, Dec. 27 it struck a deal that will save hundreds of stores, thousands of jobs and keep the brand alive.

Despite Big Lots dissolving amid Chapter 11 bankruptcy proceedings, the company announced late Friday that it has agreed to a sale with Gordon Brothers Retail Partners, LLC that would involve keeping hundreds of stores open, if the deal is approved by a judge.

Hundreds of Big Lot Stores could remain open after an agreement was made to sell off its assets. The Columbus based Big Lots says that Variety Wholesalers is looking at buying between 200 and 400 stories and operating them under the “Big Lots” name moving forward.

After announcing all Big Lots stores will close just a week ago, the company now says 200 to 400 locations may be saved thanks to a last minute sale. Some of these Big Lots locations could now be run by Variety Wholesalers,

The discount chain Big Lots has reached a deal that will keep hundreds of its stores open. Big Lots said it will be sold to Gordon Brothers Retail Partners, which specializes in distressed companies.

The discount chain said it agreed to a sale transaction with an investment firm which would allow hundreds of stores to stay open by transferring its property to other retailers and companies.

Big Lots, which filed for bankruptcy in September, said that it reached an agreement with Gordon Brothers Retail Partners that would keep hundreds of stores open and save thousands of jobs. The Columbus,

Big Lots has been handed a lifeline by Gordon Brothers Retail Partners and Variety Wholesalers to save some 200 to 400 stores along with the jobs of the stores' employees.