Maurice Sporting Goods Files for Ch. 11 Bankruptcy
The Northbrook, IL-based outdoor sporting goods wholesaler, which had been courting potential buyers, filed a prepackaged reorganization plan while simultaneously announcing a deal to be acquired by private equity firm Middleton Partners. Middleton is currently finalizing an asset purchase agreement, and said the reorganization and sale process would have no impact on daily operations or the company’s ability to fulfill its obligations to customers and employees. The filing lists $10 million to $50 million in assets and $100 million to $500 million in liabilities. Maurice had $259 million in sales in the 12 months through Sep. 30.
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