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.

Big Lots (OTC:BIGGQ) has agreed to a transaction with Gordon Brothers Retail Partners that will facilitate the transfer of a majority of Big Lots' assets to Variety Wholesalers and other parties. Variety Wholesalers,

In a sale brought about by global asset and real estate consulting firm Gordon Brothers, between 200 and 400 Big Lots stores will remain open.