Big Lots Secures $760 Million Bid for Bankruptcy Auction; Spirit Airlines in Merger Talks with Frontier Airlines

Big Lots Inc. is set to proceed with a bankruptcy auction next week after a Delaware bankruptcy judge approved its plans. The company has secured financing for a baseline bid of $760 million. This development comes amid a delay in a court hearing regarding the potential naming of private equity firm Nexus Capital as the lead bidder. In related news, Spirit Airlines is exploring a merger with Frontier Airlines as it seeks to avoid bankruptcy following the collapse of a previous deal with JetBlue. Meanwhile, a bankrupt houseware brand has sold its assets to lenders, and a budget coach operator is shutting down routes across England and Wales due to insufficient demand post-pandemic.