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ODD LOTS BIG LOTS Shopping Basket 1991 Metal Handles Orange Plastic Esselte RARE
See pictures for details.
A History of the Discount Retailer
What began as a single closeout store named \"Odd Lots\" in Columbus, Ohio, grew into the nationally recognized \"Big Lots\" brand, a staple for bargain hunters for decades. The company\'s history is one of strategic growth, acquisitions, and a significant rebranding that unified its identity.
The Early Days and the Birth of \"Odd Lots\"
The story of Big Lots begins with Sol Shenk, who founded the Consolidated Stores Corporation in Columbus, Ohio, in 1967. The company\'s venture into retail started in 1982 with the opening of its first closeout store, aptly named \"Odd Lots.\" The concept was simple: offer a wide variety of merchandise at deeply discounted prices.
A key challenge emerged in 1983 when the drugstore chain Revco acquired a New Jersey-based retailer with a similar name, Odd Lot Trading Co. This led to a legal dispute over the rights to the \"Odd Lots\" name. A compromise was eventually reached, allowing Consolidated Stores to use the \"Odd Lots\" name only within a 75-mile radius of Columbus. To continue its expansion beyond this area, the company began opening stores under a new name: \"Big Lots.\"
Expansion and Acquisitions
Consolidated Stores Corporation went public in 1985, fueling a period of significant growth. The company expanded its footprint not only by opening new stores but also by acquiring other retail chains. Notable acquisitions included:
* Mac Frugal\'s (Pic \'N\' Save)
* KB Toys
These acquisitions diversified the company\'s product offerings and expanded its presence across the United States. For a time, Consolidated Stores operated under several different banners, including Odd Lots, Big Lots, Mac Frugal\'s, and Pic \'N\' Save.
Unification Under the \"Big Lots\" Banner
To create a more cohesive and recognizable national brand, Consolidated Stores Corporation made a pivotal decision in 2001. The parent company changed its name to Big Lots, Inc., and began the process of rebranding all of its closeout stores under the Big Lots name. This move brought all the various store banners, including the original \"Odd Lots,\" under a single, unified identity.
Recent Developments
In more recent years, Big Lots has faced significant financial challenges, navigating a changing retail landscape. In 2024, the company filed for bankruptcy.
