New Delaware Chapter 11 Filing – Maurice Sporting Goods, Inc.
Maurice Sporting Goods, Inc., along with four affiliates and subsidiaries, has filed a petition for relief under Chapter 11 in the Bankruptcy Court for the District of Delaware (Lead Case No. 17-12481). Maurice, which is headquartered in Northbrook, Illinois, engages in the manufacturing, sourcing, distribution and wholesale of outdoor sporting goods products. Maurice’s petition reports $10 – $50 million in assets and $100 – $500 million in liabilities. According to the First Day Declaration, Maurice has filed for Chapter 11 as a result of a liquidity crisis whose primary causes are (i) cost overruns in the construction of a state of the art distribution center in McDonough, Georgia, and (ii) losses caused by the bankruptcies of a number of sporting goods retailers. The Declaration also reports that Maurice has engaged in a prepetition marketing process and intends to file a bid procedures and sale motion with Middleton Management Company, LLC as stalking horse. Epiq Bankruptcy Solutions is the proposed claims and noticing agent. The cases have been assigned to the Honorable Christopher S. Sontchi.
Contact Norman L. Pernick or Nicholas J. Brannick for more information regarding this matter. Please note, however, that Cole Schotz P.C. does not represent the debtors in these cases and cannot respond to questions directed toward the debtors.
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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