Nexus Capital Approved to Buy Big Lots Chain Out of Bankruptcy

Nexus Capital Management won court approval to buy bankrupt retailer Big Lots Inc., after no higher offer came in at an auction.

• Judge J. Kate Stickles said in a court hearing Friday that she would approve the deal, which is tied to the $765 million that the private equity firm obtained to finance the deal
• Sickles overruled objections from shareholders and lower-ranking creditors, who had demanded more time to investigate possible claims against senior lenders
• The sale ensures the retail chain will stay open, save jobs and benefit creditors who can keep doing business with Big Lots outside of ...