TOWN OF ULSTER, N.Y. – Big Lots at the Caldor Plaza is no longer listed among the chain’s stores being closed under the Chapter 11 bankruptcy following court approval of a restructuring plan under a $707.5 million financing arrangement. The company, which is being sold to Nexus Capital Management, made the announcement on Nov. 22, reversing the staggered closings that had affected nearly 500 of the franchise’s 1,392 stores. “(The) approval paves…

Daily Freeman

Kingston

Ulster County

New York

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Big Lots store in town of Ulster to remain open, reversing closure announcement

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

RetailWit

Big Lots sold to private equity – RetailWit

Scioto Valley Guardian

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

The Top 100 retailer's assets and ongoing business operations are part of the acquisition, which is expected to close in December.

Furniture Today

Big Lots’ sale to Nexus approved in court - Home Furnishings News

The Deal Structure EmergesIn what marks a pivotal moment for one of America’s most recognized discount retailers, Big Lots (NYSE: BIG) secured court approval Friday for a sale to Nexus Capital Management affiliate, setting the stage for what could be either a remarkable turnaround story or another chapter in retail’s ongoing transformation saga.By The Numbers: Understanding The TransactionThe deal’s framework reveals the depths of Big Lots’ chal…

Omni Talk

Big Lots' $2.5M Sale to Nexus Capital Approved: A New Chapter for the Troubled Discount Retailer

retaildive.com

Big Lots sold to private equity

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.

retail-insight-network.com

Big Lots gains court approval for asset sale to Nexus Capital affiliate

COLUMBUS, Ohio — Big Lots Inc. said that it has received bankruptcy court approval for the sale of substantially all of its assets and ongoing business operations to an affiliate of Nexus Capital Management. The sale is expected to close in December. In a statement issued on Nov. 22, Big Lots President and Chief Executive Officer Bruce Thorn said, “Today’s approval paves the way for a new phase for Big Lots, during which we intend to reclaim our…

Big Lots store in town of Ulster to remain open, reversing closure announcement

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