09:21 AM EDT, 05/24/2024 (MT Newswires) -- Ollie's Bargain Outlet Holdings (OLLI) said Friday that the US Bankruptcy Court for the District of Delaware has approved its stalking horse bid to buy 11 former 99 Cents Only Stores locations.

The company said it signed an asset purchase agreement with the debtor to acquire the stores for $14.6 million in cash.

Out of these 11 locations, three are owned properties and eight are leased properties, according to Ollie's.

The deal, which was approved by the court Thursday, is anticipated to be completed in early June, the retailer added.

Price: 76.00, Change: +0.82, Percent Change: +1.09