Edwin Watts Golf Shops LLC, which sells golf equipment and apparel online and through 90 U.S. retail stores, filed for Chapter 11 bankruptcy protection.
The company, owned by an affiliate of private-equity firm Sun Capital Partners Inc., listed assets and liabilities between $100 million and $500 million. Callaway Golf Co. (ELY:US) is the largest unsecured creditor, with a claim of $4.6 million, according to papers filed today in U.S. Bankruptcy Court in Wilmington, Delaware.
Edwin Watts, based in Fort Walton Beach, Florida, agreed to sell certain assets to GWNE Inc., according to the filing. The company also said it obtained a loan of much as $38 million to fund operations in bankruptcy.
The case is In re Edwin Watts Golf Shops LLC, 13-bk-12877, U.S. Bankruptcy Court, District of Delaware (Wilmington).
To contact the reporter on this story: Sophia Pearson in federal court in Philadelphia at firstname.lastname@example.org
To contact the editor responsible for this story: Michael Hytha at email@example.com