The discount chain said it agreed to a sale transaction with an investment firm which would allow hundreds of stores to stay open by transferring its property to other retailers and companies.

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.

In a sale brought about by global asset and real estate consulting firm Gordon Brothers, between 200 and 400 Big Lots stores will remain open.