Alpena Big Lots one of hundreds to close

News Photo by Reagan Voetberg The Big Lots store in Alpena continues to promote its going-out-of-business sale on Thursday. There was some hope the store would remain open after the company was sold, but the new owner, Gordon Brothers Retail Partners, announced Alpena was one of almost 500 stores to be closed.
ALPENA — It’s official, the Big Lots in Alpena is closing and the property where the store is located is available for lease.
It is not known at this time when the store will close its doors for the last time.
Overall, nearly 500 Big Lots stores will close, including 16 stores in Michigan.
Big Lots filed for bankruptcy in September and has been trying to unload the business and its assets since.
Big Lots was a popular place to purchase seasonal and holiday items and decorations. It was also a store where people could shop for reasonably priced furniture.
The closure of the local store comes amid a fury of changes with the Big Lots company over the last year that left hundreds of stores not knowing if they would remain open or close.
Big Lots gave potential buyers of the company until the end of 2024 to purchase the franchise and had a purchase agreement with Nexus Capital Management which could have prevented some store closures, but the deal fell through.
Going out of business sales began nationwide, but then circumstances changed again.
Just before the new year, Big Lots struck a sales deal with Gordon Brothers Retail Partners, LLC, including stores, distribution centers, and intellectual properties that breathed life into the idea that the Alpena store could stave off closure.
That is no longer the case.
The properties for the stores that are closing have already been listed as available for lease by Big Lots’ new owners.
Alpena Area Chamber of Commerce Economic Development Director Mike Mahler said the news of the closure is disappointing, especially for the seniors who might utilize the Program of All-Inclusive Care for the Elderly (PACE) and want to shop within the plaza.
“It seems like we take one step forward and then two steps back,” he said. “The shopping center was beginning to fill up and now we have lost our anchor.”
Gordon Brothers began listing the Big Lots locations on Jan. 14, with purchase offers due by Friday. The store listings say they are primarily located in shopping centers across 47 states and range in size from about 19,000 to 55,000 square feet, the firm says on the sale site.
Mahler said the large footprint of the building opens up a range of businesses that could utilize it. He said the south corridor of Alpena offers developers lower investment costs than the area out by Walmart and Meijer.
“For someone who wants to be in the community but doesn’t want to pay a premium, it is a way for them to do it,” he said. “Hopefully we’ll be able to find something to pop in there.”
In a press release, Michael Burden, co-head of North America real estate services at Gordon Brothers, said the former Big Lots properties provide a chance for other investors to build businesses.
“This is a fantastic opportunity for expansion-minded retailers to grow their footprint by acquiring well-located stores with long-term, below-market rents,” Burden said in the press release. “These spaces offer a seamless path to enhance their presence and serve new communities, making it an ideal time to capitalize on prime retail real estate.”
The Big Lots store in Alpena is located on U.S.-23 South in the Giantway Plaza Shopping Centre. The plaza also includes a JOANN Fabrics and Crafts store and construction for the new location for PACE, which will offer dining space, programs and activities, assistance with laundry and bathing, medical checkups, physical therapy, and Medicare and Medicaid services to seniors.
Steve Schulwitz can be reached at 989-358-5689 or sschulwitz@TheAlpenaNews.com. Follow him on X @ss_alpenanews.com.