The closure is planned, an agreement has been reached to keep hundreds of Big Lots stores open

Although Big Lots dissolved through Chapter 11 bankruptcy proceedings, the company announced late Friday that it had agreed to a sale with Gordon Brothers Retail Partners, LLC that would include keeping hundreds of stores open if the deal is approved by a judge becomes.

The company was in the process of initiating out-of-business sales at all of its locations after a potential deal to sell the company to Nexus Capital Management fell through.

Big Lots has already closed hundreds of locations this year. The company still has more than 900 locations. No timeline has been set for when the other locations will close.

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Under the new agreement, Gordon Brothers Retail Partners will transfer Big Lots’ assets, including stores, distribution centers and intellectual property, to other retailers and companies, Big Lots said. Variety Wholesalers, which also operates retailer Roses, plans to acquire between 200 and 400 Big Lots stores. Variety Wholesalers also plans to operate stores under the Big Lots brand in the future.

Variety Wholesalers will also keep two Big Lots distribution centers open as part of the agreement.

“The strategic sale to Gordon Brothers and transfer to Variety Wholesalers is a gratifying and significant achievement for Big Lots that reflects the tireless work and collective commitment of our team,” said Bruce Thorn, President of Big Lots. “This sale agreement and transfer represents the greatest opportunity to retain jobs, maximize the value of the property and ensure the continuity of the Big Lots brand. We are grateful to our employees across the country for their courage and resilience throughout this process.”

A federal bankruptcy court must still approve the transfer of business.

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