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Article Date: March 2017
Word Count: 177

Eastern Outfitters Defends Sports Direct Deal

Noting that an extensive marketing process prior to the bankruptcy produced only two bona fide offers, one of which walked away, Eastern Outfitters said the current stalking horse deal with Sports Direct remains clearly a better alternative for employees and other stakeholders to the certain liquidation the chain would otherwise have faced. It also noted that Sports Direct provided critical DIP and bridge financing that kept the doors open, and asked the court to approve the terms of the auction. It made the usual arguments about the court deferring ... Log in to view full article.


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