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Article Date: February 2018
Word Count: 391

Sport Zone Sold for $900,000


An affiliate of Halifax of Palisade owned by wholesaler Jerry Shim was the only bidder for the assets of DC-area retailer Sport Zone at a bankruptcy auction that will pay $900,000 for the assets of the company with $250,000 of that in cure payments, $250,000 to the estate and another $40,000 per month for the next 10 months that will be split evenly between the cure costs and the estate. Sport Zone values its remaining inventory, which is dated at this point, at $1 million. After cure costs and administrative expenses of $75,000, it appears that there will be $337,000 ... Log in to view full article.

 


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