An affiliate of Nexus Capital Management plans to acquire the retailer for $2.5 million in cash, debt payoff and some assumed liabilities.

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Big Lots sold to private equity

RetailWit

Big Lots sold to private equity – RetailWit

COLUMBUS, Ohio — Big Lots, Inc. announced today that it has received court approval to sell most of its assets and operations to an affiliate of Nexus Capital Management LP. The sale, which is expected to close in early December, is part of the retailer’s efforts to strengthen its business and financial position. Big Lots CEO Bruce Thorn said the approval marks a new chapter for the company. “This partnership with Nexus will help us reclaim our …

Scioto Valley Guardian

Court approves sale of Big Lots, Inc. - Scioto Valley Guardian

DOVER, Del. — An asset purchase agreement for Top 100 retailer Big Lots was approved on Nov. 22 in the U.S. Bankruptcy Court for the District of Delaware, clearing the way for its acquisition by affiliates of Nexus Capital Management. Judge J. Kate Stickles approved the sale of substantially all the Columbus, Ohio-based discounter’s assets and ongoing business operations. The sale, which is subject to customary closing conditions, is expected to…

Furniture Today

Big Lots’ sale to Nexus approved in court - Furniture Today

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Chain Store Age

Big Lots’ sale to private equity firm approved by bankruptcy court

American off-price retailer Big Lots received court approval to sell its assets and operations to an affiliate of Nexus Capital Management.The post Big Lots gains court approval for asset sale to Nexus Capital affiliate  appeared first on Retail Insight Network.

Big Lots sold to private equity

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