Blaming an awkward separation from the operating systems of former parent Adidas, a challenging retail environment and a rocky relationship with its 3PL provider, Rockport files for bankruptcy protection in DE listing some $257.2 million in debts and another $29.6 million in trade debt. The filing included a stalking horse bid from private equity firm Charlesbank for $150 million in cash plus a contingent warrant for 5% of the surviving company and an application for an $80 million DIP facility.

Rockport, originally sold to Reebok and then part of the Reebok acquisition by Adidas, was sold to Berkshire Partners and New ... Log in to view full article.