Retail Slump Sends Sporting Goods Chain To Ch. 11

Law360, New York (March 23, 2009, 12:00 AM EDT) -- Sporting goods retailer Sportsman's Warehouse Inc. has filed for Chapter 11 bankruptcy, calling itself a casualty of the global recession.

Sportsman's Warehouse and five subsidiaries filed for bankruptcy protection Friday in the U.S. Bankruptcy Court for the District of Delaware.

The Utah-based Sportsman's Warehouse had approximately $436,348,000 in assets and $452,160,00 in liabilities as of Dec. 31, 2008, and between 1,000 and 5,000 creditors, according to the petition.

“Sportsman's Warehouse is another retail victim of the worldwide global recession,” said the company's chief financial officer, Rourk...
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