5 Houston Big Lots Stores on Auction Block

Five former Big Lots leases are being auctioned off in Houston. The retailer is auctioning off leases of its closing stores. Several dozen have already been sold, but another approximately 150 are up for bids in the next auction. Big Lots is in the middle of Chapter 11 bankruptcy reorganization and is poised to be acquired by Nexus Capital Management.

A&G Real Estate Partners is running the auction on behalf of Big Lots. That group sent out the updated list of properties that will be available in December. The Houston-area properties are: 6138 Highway 6 N. in Houston, Katy, Pearland, Spring and Tomball.

Bids for these stores were due Dec. 2, and the auction will be Dec. 4. Dec. 2. The court will declare auction winners on Dec. 19.

The most prominent buyers in the previous auctions have been Ollie’s Bargain Outlet, Burlington and Dick’s Sporting Goods.

The retailer expects to close more than 550 stores as part of the bankruptcy. Roughly half of those already have closed.