US home improvement chain Lowe's has had its bid to acquire rival Orchard Supply Hardware approved by a bankruptcy court.
Lowe's, the second largest home improvement retailer in the world, will now take on 72 of Orchard's 91 stores along with its debt to suppliers, for $205m. The business will continue to trade under its own name.

Lowe's Richard D Maltsbarger will take over as Orchard's president, with current president and CEO Mark Baker leaving to head up the Aircraft Owners and Pilots Association.

Orchard turned over $657m in its 2012 financial year but filed for bankruptcy this June. Lowe's acquisition of the business will allow it to gain a stronger foothold in California, where Orchard is based.