Preference Actions Update For Sports Authority Holdings, Inc.
March 15, 2016, Delaware – On March 2, 2016 Sports Authority Holdings and its seven affiliates (Debtors) commenced a voluntary case under chapter 11 of the Bankruptcy Code. Pursuant to sections 1107(a) and 1108 of the Bankruptcy Code, the Debtors continue to manage their financial affairs as debtors in possession.
Debtors market and sell sporting goods and apparel to the general public, including without limitation active wear and outerwear for men, women, and children; seasonal accessories; recreational gear for a variety of outdoor activities such as camping, water sports, fishing, and hunting; gear for team sports including baseball, soccer, football, and basketball; gear for indoor exercise and fitness activities, et al. So far, more than one hundred fifty (150) adversary proceedings have been initiated in the Debtors’ bankruptcy cases.
The case is In re Sports Authority Holdings Inc., 16-10527, U.S. Bankruptcy Court, District of Delaware. Honorable Judge Mary F. Walrath is presiding over the Debtors’ cases. Rothschild Inc. is Sports Authority’s financial adviser, FTI Consulting is its restructuring adviser, and Gibson Dunn and Young Conaway Stargatt & Taylor is the legal counsel representing Debtors.
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