New Delaware Chapter 11 Filing – SportCo Holdings, Inc.
SportCo Holdings, Inc., a Chaplin, South Carolina-based marketer and distributor of products for outdoor enthusiasts, filed a petition for relief under chapter 11 in the Bankruptcy Court for the District of Delaware (Lead Case No. 19-11299), along with eight of its affiliates. According to the First Day Declaration, the Debtors are seeking an orderly liquidation of their assets following operational declines. The Debtors have proposed BMC Group to serve as their claims and noticing agent. The Debtors report estimated assets of $0-$50,000 and estimated liabilities of $100,000,001-$500 million. The cases have been assigned to the Honorable Laurie Selber Silverstein.
Contact Norman L. Pernick or G. David Dean for more information regarding this matter.
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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