United Sporting Tees Up Ch. 11 Liquidation Plan

Law360 (August 23, 2019, 6:59 PM EDT) -- Bankrupt firearm and sporting good distributor United Sporting Cos. filed a proposed Chapter 11 plan Friday in Delaware that lays out its intention to continue liquidating its inventory and real estate in an effort to pay down its secured debt obligations.

In documents detailing the proposed plan, United Sporting said efforts by the official committee of unsecured creditors to find a going-concern buyer for the business earlier this summer were ultimately fruitless and that the liquidation was the best path forward.

"The debtors believe that the combined plan and disclosure statement provides the most efficient means to conclude the debtors' cases...

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