Columbus-based Big Lots will seek court approval of its sale to a private equity firm at a hearing scheduled for Nov. 12.
Nexus Capital Management plans to pay $765 million for the discount retailer.
Big Lots filed for Chapter 11 bankruptcy in September as it dealt with soft sales and a decline in consumer spending.
The company said that high inflation and interest rates hurt business as consumers pulled back on buying home and seasonal products.
The November hearing will be held at the U.S. Bankruptcy Court in the state of Delaware.
Big Lots President and CEO Bruce Thorn said in a statement to WOSU that Nexus has an established track record of supporting companies similar to Big Lots.
"We look forward to seeking the Court's approval of our sale and cementing our partnership with Nexus," Thorn said.