Golfsmith announces winning joint bid from Dick’s and joint venture

By Caroline Salls

Pittsburgh, Oct. 27 – Golfsmith International Holdings, Inc. said a joint bid submitted by Dick’s Sporting Goods, Inc. and a contractual joint venture of Hilco Merchant Resources, LLC, Gordon Brothers Retail Partners, LLC and Tiger Capital Group, LLC was the winning bidder for Golfsmith’s assets.

The notice did not specify the amount of the winning bid.

The company said Dick’s is expected to operate some of Golfsmith’s existing retail locations as go-forward golf retail locations.

In addition, Dick’s will acquire avoidance actions, and about 500 of Golfsmith’s employees will be retained.

The sale hearing is scheduled for Oct. 31.

Golfsmith, an Austin, Texas-based golf specialty retailer, filed bankruptcy on Sept. 15. Its Chapter 11 case number is 16-12033.

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