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.

Bankrupt discount retail chain Big Lots says it will be able to keep hundreds of its stores open after executing a strategic sale transaction with a Boston asset management firm.

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.

Some of these Big Lots locations could now be run by Variety Wholesalers, Inc., who owns and runs stores like: Roses, Roses Express, Maxway, Bill’s Dollar Stores, Super 10, Super Dollar, and Bargain Town, in the southeast and Mid-Atlantic, according to a Big Lots press release.

Big Lots sale to Variety Wholesalers may impact as many as 400 stores. It's unclear if the sale will impact its remaining Great Lakes Bay location in Bay City.

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.

Big Lots has reached a deal that will keep hundreds of its stores open after filing for bankruptcy protection earlier this year.

The discount retailer had filed for bankruptcy in October and had already started liquidation before this new deal

Big Lots has struck a deal to save some stores from closing and keep the brand name alive. The discount retail chain announced late Friday that it has agreed to a sale transaction with Gordon Brothers Retail Partners,

Less than 10 days after Big Lots announced a purchase agreement had fallen through, the discount retailer has agreed to a new deal.