March 31, 2017
Hilco and Gordon Brothers finally emerged as stalking horse bidders, one week after Gander’s original self-imposed deadline, but the terms of the agreement clearly permit Gander to continue marketing itself to going concern buyers until the actual deadline for submitting bids on Apr. 24 for an Apr. 27 auction date.
The parties agreed to convert the bankruptcy auction into a private sale under which Sports Direct will guarantee the payment of stub rent to landlords in the case and have the right to pursue avoidance claims for the estate only if Eastern Outfitters doesn’t pursue them.
Fila Korea’s consolidated net income was KRW357,314 million ($308.6 million) in the fourth quarter against a loss of KRW51,146 million ($44.2 million) last year on the huge windfall from its subsidiary Acushnet going public.