After previous sale plan falls through, discount retailer strikes new arrangement with Gordon Brothers and Variety Wholesalers.

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

Located at 39 North Plank Road, the Big Lots store in Newburgh is having a sale before it closes soon as the company tries to keep some stores open.

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.

"The strategic sale to Gordon Brothers and the transfer to Variety Wholesalers is a favorable and significant achievement for Big Lots..."

The discount retailer had filed for bankruptcy in September.

Big Lots announced Friday it has reached a sale agreement with investment firm Gordon Brothers Retail Partners.

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.

Big Lots, LLC, which is based in Columbus, Ohio, announced that it has found a buyer to acquire its stores, distribution centers and intellectual property to transfer to other retailers.