David’s Bridal was saved from liquidation when U.S. Bankruptcy Judge Christine M. Gravelle approved a no-cash sale to Cion Investment Corp. Most companies that go bankrupt end up liquidated, like Modell’s Sporting Goods and Borders Books and Music. Big Lots, however, survived through a unique Chapter 11 process with some stores closing and reopening under new ownership. Variety Wholesalers acquired the right to reopen a quarter to half of Big Lots’ stores. Despite changes in merchandise mix, the Big Lots name has remained. The company is now seeking to convert its bankruptcy from Chapter 11 to Chapter 7 for liquidation.

Read more at Yahoo Finance: Discount retail chain moving to Chapter 7 bankruptcy