Golfsmith Wants to Finish Wind Down without Chapter 11 Plan
The bankrupt retailer filed a motion to extend until Mar. 18 the exclusive period which prevents any outside party from interfering with its winding down of operations. Golfsmith contends that it has done a good job maximizing the value realized by remaining creditors and provided for the payment of administrative claims preparing for a cost-efficient exit from bankruptcy via a dismissal by the court rather than attempting to get a Ch. 11 plan confirmed. At this point, it has sold off essentially all its assets—the business and IP to Dick’s, the remaining store inventory in GOB sales, and the Austin, ... Log in to view full article.