Golfsmith wins fourth exclusivity extension to work on exit strategy

By Caroline Salls

Pittsburgh, Jan. 25 – Golfsmith International Holdings, Inc. obtained a fourth extension of its exclusive periods for filing and soliciting votes on a Chapter 11 plan, according to an order filed Jan. 25 with the U.S. Bankruptcy Court for the District of Delaware.

The company’s exclusive filing period was extended through March 14 from Jan. 9 and the solicitation period through May 14 from March 8.

Golfsmith said it has worked toward winding down its businesses and affairs by concluding store-closing sales, selling its headquarters and reaching a global settlement.

“The debtors are 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,” the motion said.

“In light of the foregoing factors, the debtors’ request for an extension is modest and justified.”

Golfsmith, an Austin, Texas-based golf specialty retailer, filed for bankruptcy on Sept. 15, 2016. Its Chapter 11 case number is 16-12033.

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