New Delaware Chapter 11 Filing – Golfsmith International Holdings, Inc. et al.
Golfsmith International Holdings, Inc., a golf clothing and equipment retailer based in Austin, Texas, and twelve of its affiliates have filed for chapter 11 bankruptcy protection before the United States Bankruptcy Court for the District of Delaware (Main Case No. 16-12033). The case has been assigned to the Honorable Christopher S. Sontchi. According to the debtors, changes in consumer behavior and shifting trends in the retail industry in general have led to the commencement of these chapter 11 cases. The debtors indicate that they have entered into a restructuring support agreement with the senior secured lender but have also filed a motion to sell substantially all of their assets. The petitions (including the consolidated list of top 30 creditors), the first day declaration and the docket are available through Prime Clerk.
Cole Schotz P.C. does not represent the debtors.
Contact Norman L. Pernick and Nicholas J. Brannick for more information.
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As the law continues to evolve on these matters, please note that this article is current as of date and time of publication and may not reflect subsequent developments. The content and interpretation of the issues addressed herein is subject to change. Cole Schotz P.C. disclaims any and all liability with respect to actions taken or not taken based on any or all of the contents of this publication to the fullest extent permitted by law. This is for general informational purposes and does not constitute legal advice or create an attorney-client relationship. Do not act or refrain from acting upon the information contained in this publication without obtaining legal, financial and tax advice. For further information, please do not hesitate to reach out to your firm contact or to any of the attorneys listed in this publication.
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