- U.S. discount home goods retailer Big Lots said on Monday it has secured $707.5 million to support its operations and sell its business to private equity firm Nexus Capital, as it has initiated bankruptcy proceedings under Chapter 11.
Nexus will serve as a "stalking horse bidder" in a court-supervised auction process, Big Lots said, adding that the deal will close in the fourth quarter of 2024 if Nexus is deemed the winning bidder.
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