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Article Date: February 2017
Word Count: 677

EMS Parent Back in Chapter 11 with Sports Direct as Stalking Horse


The new filing in DE bankruptcy court list $100 to $500 million in assets and liabilities and said funds will be available to unsecured creditors. It also specifies that U.K. sporting goods giant Sports Direct has agreed to submit a stalking horse bid for the company and to provide DIP financing, although the actual asset purchase agreement wasn’t filed yet. The process anticipates an auction for the company.

 

The list of unsecured creditors, who are surely displeased by the prospect of another haircut at the hands of EMS’s owners, who are an affiliate of the original owners that filed for bankruptcy, ... Log in to view full article.

 


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