Golf Shop Chain Lands In Ch. 11, Aims For $45M Sale

Law360, Wilmington (November 4, 2013, 8:35 PM EST) -- Florida-based Edwin Watts Golf Shops LLC sought Chapter 11 protection in Delaware bankruptcy court Monday as the private-equity owned equipment retailer seeks to sell all of its assets in a stalking horse deal worth at least $45 million.

Owned by PE firm Sun Capital Partners Inc., the retail chain faced a liquidity crunch brought on by increased industry completion and declining participation in the sport, according to a first-day declaration by Chief Financial Officer Lynda K. Barr.

Edwin Watts Golf, which operates some 90 stores, listed...
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