ITHACA, NY (607NewsNow) – An agreement that could keep hundreds of Big Lots stores open has been reached.

Last week the company announced the closure of its remaining 963 locations after a failed acquisition. However, a December 28 deal was struck with new buyer Gordon Brothers Retail Partners, who will transfer Big Lots’ assets to other retailers.

According to a release from Big Lots, one of those retailers is Variety Wholesalers, who will acquire 200-400 Big Lots stores and two distribution centers. No further details were provided.

Big Lots President and CEO Bruce Thorn reportedly says the sale is the best way to preserve jobs, maximize estate value, and ensure brand continuity.

The Ithaca store closed in the fall after the company initially declared bankruptcy.