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.

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.

America is preparing to say goodbye to another big name retail chain. Big Lots is planning to shutter all of its locations following months of store closures and a September filing for Chapter 11 bankruptcy protection.