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* Outback Steakhouse Inc. said a Bankruptcy Court had approved its bid to acquire property rights of Irvine-based Prandium Inc.’s Chi-Chi’s chain for $42.5 million.
* Discount retailer Kohl’s Corp. said it planned to open 11 more stores in Northern California by October.
* Wal-Mart Stores Inc. said it would delay building an Atlanta-area Supercenter while considering residents’ concerns about the development.
* A judge approved the sale by Spiegel Inc. of its Eddie Bauer corporate campus to Microsoft Corp., a $38-million deal that would help the retailer pay unsecured creditors.
* Standard & Poor’s cut AT&T; Corp.’s debt ratings to junk status, citing the company’s declining revenue and profitability.
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