Daily News
From Home Furnishing Business
Big Lots Announces Approval for Sale to Nexus Capital
November 25,
2024 by Karen Parrish in Business Strategy, Industry 
Big Lots, Inc. announced that it has received court approval for the sale of substantially all of the Company’s assets and ongoing business operations to an affiliate of Nexus Capital Management LP (“Nexus”). The sale, which is subject to customary closing conditions, is expected to close in early December.
Bruce Thorn, Big Lots’ president and CEO, said, “Today’s approval paves the way for a new phase for Big Lots, during which we intend to reclaim our position as the undisputed leader in extreme value. Partnering with Nexus, which believes in our business and long-term potential, will ensure that Big Lots is best positioned to emerge as a stronger company for 2025 and beyond. As we work to close the transaction, we remain focused on serving our customers and want to thank our associates for their continued hard work and dedication to providing them with the best service possible.”
Evan Glucoft, managing director of Nexus, said, “Nexus’s acquisition of Big Lots is a testament to our confidence in the Company’s core proposition and growth prospects. We strongly believe that Big Lots is on the brink of capitalizing on its potential, and we look forward to working with the talented Big Lots team to accelerate its mission and realize the opportunities ahead.”