Golfsmith International Holdings granted 120-day exclusivity extension

By Caroline Salls

Pittsburgh, Jan. 30 – Golfsmith International Holdings, Inc. obtained an extension of its exclusive periods for filing and soliciting votes on a Chapter 11 plan, according to an order filed Monday with the U.S. Bankruptcy Court for the District of Delaware.

The company’s exclusive filing period was extended by 120 days through May 12 and the solicitation period by 120 days through July 11.

Golfsmith said it has worked toward winding down its businesses and affairs by beginning store-closing sales, securing a binding offer for the purchase of its headquarters in Austin, Texas, seeking to assume and assign numerous unexpired leases and rejecting other executory contracts and leases.

As a result, the company said it is now “poised to productively move forward with the next stage of these Chapter 11 cases,” including reviewing claims filed by various parties and preparing and consulting with constituent representatives regarding exit strategies.

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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