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ig Lots is set to auction off more Houston-area leases as part of its ongoing financial restructuring efforts. The retailer will sell five leases covering locations in northwest Houston, Katy, Pearland, Spring, and Tomball, according to the Houston Business Journal. These properties span over 150,000 square feet and range from $5.25 to $7.98 per square foot.

    The auction is being managed by A&G Real Estate Partners, which has already seen interest from national retailers such as Aldi and Dick's Sporting Goods. One notable location in Spring spans 39,495 square feet at $7.98 per square foot, with a lease extending through January 2025 and a renewal option available for an additional five years.

    Big Lots is undergoing significant changes, having operated over 1,400 stores nationwide before announcing plans to close more than 550 locations. Despite this, the company reports that 70 percent of its stores were profitable prior to the closures, with the current actions targeting underperforming locations. The lease sales are a critical element of Big Lots' bankruptcy proceedings, enabling it to streamline operations and reposition itself for financial stability.

    The auction will close on December 2, with the court set to declare winners on December 19 following the objection process. Additional Houston-area properties, including sites in Porter and Webster, will be included in future auctions managed by A&G Real Estate Partners.