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Article Date: July 2019
Word Count: 396

Ellett Brothers’ Creditors Smell a Liquidation

The unsecured creditors committee of parent SportCo Holdings has asked the bankruptcy court judge to stop the debtor from selling off so much product that it could prevent a going concern sale if the inventory falls too low. According to the motion, the fire sale of inventory is violating the terms of the sale order, as levels have already dropped below the $20 million minimum that sale agent Emerald Capital Advisors required. The creditors committee also says that the debtors are not revealing what inventory still exists and other details such as aging, receivables and payables, which would be key ... Log in to view full article.


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