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Article Date: March 2017
Word Count: 516

Creditors Object to Auction Procedures on Eastern Outfitters

While saying they have no objection to Sports Direct buying the assets of the bankrupt parent of Eastern Mountain Sports and Bob’s Stores, the unsecured creditors committee complains that the asset purchase agreement signed between Eastern Outfitters and Sports Direct so unfairly tilts the auction process in favor Sports Direct that it needs some significant modification. The unsecured creditors also make it clear that they have been actively negotiating with Sports Direct over this and other issues without success. That certainly suggests that Sports Direct is taking a firm posture in these talks, raising the possibility that it will walk ... Log in to view full article.


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